Short Interest in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Decreases By 7.9%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 18,780,000 shares, a drop of 7.9% from the January 15th total of 20,380,000 shares. Based on an average trading volume of 2,470,000 shares, the short-interest ratio is currently 7.6 days. Approximately 12.7% of the company’s shares are short sold.

BridgeBio Pharma Stock Performance

Shares of BBIO traded up $3.34 during mid-day trading on Monday, hitting $34.90. 3,372,917 shares of the company traded hands, compared to its average volume of 3,171,595. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of -14.48 and a beta of 1.07. The stock has a 50-day moving average price of $31.15 and a two-hundred day moving average price of $27.60. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright reissued a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday. Finally, Scotiabank raised their price target on BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,492,093 shares of company stock valued at $122,029,004 in the last quarter. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC boosted its holdings in shares of BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after buying an additional 1,514 shares during the last quarter. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the third quarter valued at approximately $57,000. Finally, CWM LLC increased its holdings in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

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.