BridgeBio Pharma (NASDAQ:BBIO) Trading Down 4.2% - What's Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) traded down 4.2% on Monday . The company traded as low as $34.96 and last traded at $34.79. 719,999 shares were traded during trading, a decline of 68% from the average session volume of 2,272,087 shares. The stock had previously closed at $36.31.

Analyst Ratings Changes

A number of analysts have recently issued reports on BBIO shares. Scotiabank raised their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Friday, February 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. HC Wainwright increased their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Redburn Atlantic began coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 target price on the stock. Finally, Citigroup lifted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

BridgeBio Pharma Trading Down 1.1 %

The firm has a 50-day moving average of $33.92 and a two-hundred day moving average of $30.50. The firm has a market capitalization of $6.82 billion, a P/E ratio of -12.60 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of BridgeBio Pharma stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now owns 102,464 shares in the company, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,769,739 shares of company stock worth $329,866,901 in the last 90 days. Insiders own 24.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 382 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in BridgeBio Pharma by 85.8% during the 4th 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. acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC increased its position in shares of BridgeBio Pharma by 554.6% during 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 period. Finally, GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma during the fourth quarter worth $109,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.

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