BridgeBio Pharma (NASDAQ:BBIO) Sets New 1-Year High - Here's What Happened

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $41.36 and last traded at $41.14, with a volume of 2864209 shares traded. The stock had previously closed at $39.78.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Wall Street Zen upgraded BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wolfe Research started coverage on shares of BridgeBio Pharma in a research note on Tuesday. They set an "outperform" rating and a $49.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $56.67.

BridgeBio Pharma Price Performance

The firm has a 50-day simple moving average of $35.95 and a 200 day simple moving average of $33.45. The stock has a market capitalization of $7.92 billion, a P/E ratio of -11.82 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same period in the prior year, the company earned ($0.20) EPS. The business's quarterly revenue was down 44.8% compared to the same quarter last year. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Hannah Valantine sold 4,292 shares of BridgeBio Pharma stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $40.00, for a total value of $171,680.00. Following the completion of the sale, the director now owns 1,764 shares in the company, valued at $70,560. The trade was a 70.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the transaction, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,396,474 shares of company stock valued at $219,332,971 over the last 90 days. 18.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of BBIO. Ironwood Investment Management LLC raised 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 valued at $1,733,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 71.0% during the 1st 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. grew its stake in BridgeBio Pharma by 3.8% in the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after acquiring an additional 385 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock valued at $404,000 after acquiring an additional 466 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 85.8% during 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 period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.