BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Update

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 14,280,000 shares, a growth of 6.5% from the March 15th total of 13,410,000 shares. Approximately 10.3% of the company's shares are sold short. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is presently 8.3 days.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several research reports. Raymond James began coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They issued an "outperform" rating and a $45.00 price objective for the company. Cantor Fitzgerald increased their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 19th. BMO Capital Markets began coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a "market perform" rating and a $37.00 price target for the company. Mizuho decreased their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, March 5th. Finally, HC Wainwright reiterated a "buy" rating and issued a $47.00 price target on shares of BridgeBio Pharma in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $47.17.

BridgeBio Pharma Price Performance

BBIO stock traded down $0.53 during trading on Tuesday, hitting $25.24. 1,039,616 shares of the stock traded hands, compared to its average volume of 1,754,928. BridgeBio Pharma has a 1 year low of $12.75 and a 1 year high of $44.32. The firm's 50 day moving average is $31.05 and its two-hundred day moving average is $31.82. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -6.41 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to analysts' expectations of $4.78 million. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. The firm's revenue was down 8.4% on a year-over-year basis. As a group, analysts anticipate that BridgeBio Pharma will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.52% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Large investors have recently made changes to their positions in the stock. Clear Street Markets LLC purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $33,000. Quantbot Technologies LP lifted its holdings in BridgeBio Pharma by 500.0% during the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company's stock valued at $42,000 after purchasing an additional 3,500 shares in the last quarter. Quarry LP purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $50,000. Assetmark Inc. purchased a new position in BridgeBio Pharma during the third quarter valued at approximately $53,000. Finally, Sandia Investment Management LP purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $83,000. 99.85% of the stock is currently owned by institutional investors.

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.