Short Interest in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Rises By 6.5%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 14,280,000 shares, a growth of 6.5% from the March 15th total of 13,410,000 shares. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 8.3 days. Currently, 10.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald raised their price target on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Raymond James initiated coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 price target on the stock. Mizuho lowered their price objective on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of BridgeBio Pharma in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $47.17.

Insider Activity

In related news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.52% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Clear Street Markets LLC acquired a new stake in shares of BridgeBio Pharma in the 1st quarter valued at approximately $33,000. Quantbot Technologies LP increased its stake in BridgeBio Pharma by 500.0% in the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock valued at $42,000 after purchasing an additional 3,500 shares in the last quarter. Quarry LP acquired a new stake in BridgeBio Pharma in the fourth quarter worth $50,000. Assetmark Inc. bought a new position in shares of BridgeBio Pharma during the third quarter worth $53,000. Finally, Sandia Investment Management LP bought a new position in shares of BridgeBio Pharma during the first quarter worth $83,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 2.1 %

Shares of NASDAQ:BBIO opened at $25.24 on Wednesday. BridgeBio Pharma has a 1-year low of $12.75 and a 1-year high of $44.32. The stock has a market capitalization of $4.44 billion, a P/E ratio of -6.41 and a beta of 1.03. The business has a 50-day moving average price of $31.05 and a two-hundred day moving average price of $31.82.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. During the same period last year, the business posted ($0.92) earnings per share. BridgeBio Pharma’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that BridgeBio Pharma will post -3.09 EPS for the current year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.