BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Up – Time to Buy?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped up prior to trading on Friday . The stock had previously closed at $63.73, but opened at $70.07. BridgeBio Pharma shares last traded at $68.4410, with a volume of 782,051 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BBIO shares. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. The Goldman Sachs Group boosted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Truist Financial raised their price target on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Piper Sandler upped their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.05.

BridgeBio Pharma Stock Up 9.0%

The firm has a market cap of $13.39 billion, a price-to-earnings ratio of -16.60 and a beta of 1.13. The business’s 50-day simple moving average is $75.60 and its two-hundred day simple moving average is $61.96.

Insider Activity

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the transaction, the chief accounting officer owned 130,297 shares in the company, valued at approximately $9,675,855.22. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $73.97, for a total transaction of $2,958,800.00. Following the sale, the chief executive officer directly owned 735,686 shares of the company’s stock, valued at $54,418,693.42. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 286,184 shares of company stock valued at $19,840,799 in the last three months. Company insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in BBIO. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the first quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in BridgeBio Pharma by 15.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,335 shares of the company’s stock valued at $317,000 after buying an additional 971 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $207,000. KLP Kapitalforvaltning AS lifted its stake in BridgeBio Pharma by 20.1% during the second quarter. KLP Kapitalforvaltning AS now owns 28,035 shares of the company’s stock worth $1,211,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in BridgeBio Pharma during the 2nd quarter worth about $424,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.