BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Up – Still a Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped up prior to trading on Friday . The stock had previously closed at $63.73, but opened at $70.07. BridgeBio Pharma shares last traded at $68.4410, with a volume of 782,051 shares.

Analysts Set New Price Targets

BBIO has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on BridgeBio Pharma from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group increased their price objective on BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Sanford C. Bernstein assumed coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 target price on the stock. Cantor Fitzgerald upped their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Twenty-two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Trading Up 6.8%

The company has a market cap of $13.11 billion, a P/E ratio of -16.28 and a beta of 1.13. The business has a 50 day moving average price of $75.53 and a 200-day moving average price of $62.23.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $73.97, for a total transaction of $2,958,800.00. Following the transaction, the chief executive officer owned 735,686 shares in the company, valued at $54,418,693.42. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew Lo sold 55,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the completion of the sale, the director owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 286,184 shares of company stock valued at $19,840,799 in the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new stake in BridgeBio Pharma during the third quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma during the third quarter worth about $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the 1st quarter valued at about $35,000. Finally, First Horizon Corp acquired a new position in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $36,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.