BridgeBio Pharma (NASDAQ:BBIO) Rating Lowered to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of BridgeBio Pharma (NASDAQ:BBIO - Free Report) from a hold rating to a sell rating in a research note published on Friday.

Several other analysts have also recently commented on BBIO. HC Wainwright raised their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Piper Sandler boosted their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Finally, Citigroup boosted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of "Moderate Buy" and an average price target of $57.09.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $1.74 during trading on Friday, reaching $37.20. The company had a trading volume of 1,268,170 shares, compared to its average volume of 2,449,805. The stock's fifty day moving average price is $34.29 and its 200 day moving average price is $32.28. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.54. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of -13.05 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. The company's revenue for the quarter was down 44.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) earnings per share. On average, equities analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the transaction, the insider now owns 13,260,971 shares of the company's stock, valued at $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total transaction of $2,505,000.00. Following the transaction, the chief executive officer now directly owns 4,798,447 shares in the company, valued at $160,268,129.80. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,392,182 shares of company stock valued at $416,921,291. 18.20% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ironwood Investment Management LLC boosted its holdings in shares of BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after purchasing an additional 338 shares during the last quarter. GAMMA Investing LLC lifted its position in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares during the period. Xponance Inc. boosted its stake in BridgeBio Pharma by 3.8% in the 1st quarter. Xponance Inc. now owns 10,474 shares of the company's stock worth $362,000 after buying an additional 385 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after buying an additional 466 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after buying an additional 472 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.