BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down – Should You Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped down prior to trading on Tuesday . The stock had previously closed at $33.01, but opened at $31.81. BridgeBio Pharma shares last traded at $31.75, with a volume of 171,088 shares.

Analyst Ratings Changes

Several research firms have issued reports on BBIO. Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Scotiabank upped their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. 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 analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $51.55.

BridgeBio Pharma Trading Down 2.2 %

The firm has a fifty day moving average of $33.72 and a two-hundred day moving average of $28.94. The company has a market cap of $6.14 billion, a PE ratio of -11.31 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. Sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock valued at $323,171,901 over the last quarter. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after buying an additional 879,059 shares in the last quarter. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock valued at $134,672,000 after purchasing an additional 89,521 shares during the period. Farallon Capital Management LLC grew its position in shares of BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after acquiring an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. raised its stake in shares of BridgeBio Pharma by 1.1% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after buying an additional 40,000 shares during the period. Finally, Capital Research Global Investors lifted its holdings in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. 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.