Short Interest in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Grows By 12.7%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 19,300,000 shares, an increase of 12.7% from the December 31st total of 17,120,000 shares. Approximately 13.1% of the company’s shares are short sold. Based on an average trading volume of 1,940,000 shares, the short-interest ratio is presently 9.9 days.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. First Bank & Trust acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth $205,000. Handelsbanken Fonder AB increased its holdings in BridgeBio Pharma by 16.6% in the 4th quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company’s stock worth $1,041,000 after purchasing an additional 5,400 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in BridgeBio Pharma by 21.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company’s stock valued at $2,556,000 after purchasing an additional 16,545 shares during the last quarter. Rhumbline Advisers grew its holdings in BridgeBio Pharma by 2.3% during the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company’s stock worth $6,013,000 after acquiring an additional 5,007 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at $210,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Monday, December 16th. Leerink Partners decreased their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Scotiabank boosted their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

BridgeBio Pharma Stock Down 7.8 %

Shares of NASDAQ BBIO traded down $2.66 during trading hours on Monday, hitting $31.55. The company had a trading volume of 3,367,376 shares, compared to its average volume of 2,921,524. The stock has a market capitalization of $5.96 billion, a P/E ratio of -13.09 and a beta of 1.05. The firm’s 50 day moving average is $30.11 and its 200-day moving average is $27.19. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $41.04.

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.