BridgeBio Pharma (NASDAQ:BBIO) Shares Up 7.2% – Should You Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price traded up 7.2% during mid-day trading on Friday . The stock traded as high as $34.11 and last traded at $33.83. 1,491,798 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,661,410 shares. The stock had previously closed at $31.56.

Wall Street Analyst Weigh In

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

BridgeBio Pharma Stock Performance

The stock has a fifty day moving average price of $31.15 and a 200 day moving average price of $27.59.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s 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 sale, the insider now owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,492,093 shares of company stock valued at $122,029,004 in the last 90 days. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after acquiring an additional 879,059 shares during the period. Janus Henderson Group PLC lifted its position in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the period. Frazier Life Sciences Management L.P. lifted its position in shares of BridgeBio Pharma by 3.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after acquiring an additional 127,853 shares during the period. Capital Research Global Investors lifted its position in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after acquiring an additional 912,439 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after acquiring an additional 123,540 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.