BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 5.7%

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) shares dropped 5.7% on Friday . The stock traded as low as $26.67 and last traded at $26.75. Approximately 278,975 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,739,387 shares. The stock had previously closed at $28.36.

Analyst Upgrades and Downgrades

BBIO has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a "market perform" rating and a $37.00 price target for the company. Cantor Fitzgerald upped their price target on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Raymond James initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They issued an "outperform" rating and a $45.00 price target for the company. Citigroup upped their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Finally, HC Wainwright reiterated a "buy" rating and set a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.62.

BridgeBio Pharma Stock Performance

The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -6.76 and a beta of 1.03. The stock's 50 day simple moving average is $31.53 and its 200-day simple moving average is $31.77.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued 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 business had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. During the same quarter last year, the firm earned ($0.92) EPS. The company's quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts expect that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Hannah Valantine sold 2,915 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $37.97, for a total value of $110,682.55. Following the sale, the director now owns 1,764 shares in the company, valued at $66,979.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the sale, the director now directly owns 6,500 shares of the company's stock, valued at $221,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hannah Valantine sold 2,915 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total transaction of $110,682.55. Following the sale, the director now directly owns 1,764 shares in the company, valued at $66,979.08. The disclosure for this sale can be found here. 28.52% of the stock is currently owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in BBIO. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company's stock valued at $516,748,000 after purchasing an additional 1,524,313 shares in the last quarter. Wellington Management Group LLP purchased a new position in BridgeBio Pharma during the third quarter valued at $37,434,000. Norges Bank purchased a new position in BridgeBio Pharma during the fourth quarter valued at $46,843,000. UBS Group AG lifted its holdings in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company's stock valued at $39,785,000 after purchasing an additional 832,940 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in BridgeBio Pharma during the third quarter valued at $20,949,000. 99.85% of the stock is owned by hedge funds and other 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.