BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 6.5% in March

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 14,280,000 shares, an increase of 6.5% from the March 15th total of 13,410,000 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 8.3 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Cantor Fitzgerald lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. BMO Capital Markets assumed 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 objective for the company. Raymond James assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.17.

Insider Buying and Selling

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 stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.52% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $50,000. Assetmark Inc. acquired a new position in shares of BridgeBio Pharma during the third quarter worth approximately $53,000. Clear Street Markets LLC acquired a new position in shares of BridgeBio Pharma during the first quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. lifted its position in shares of BridgeBio Pharma by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock worth $110,000 after purchasing an additional 2,067 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of BridgeBio Pharma by 500.0% during the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock worth $42,000 after purchasing an additional 3,500 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO traded down $0.12 during trading hours on Tuesday, reaching $25.65. 222,004 shares of the company traded hands, compared to its average volume of 1,743,518. The stock’s fifty day moving average is $31.23 and its 200 day moving average is $31.83. The stock has a market cap of $4.51 billion, a P/E ratio of -6.50 and a beta of 1.03. BridgeBio Pharma has a 1-year low of $12.75 and a 1-year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.92) earnings per share. On average, equities research analysts predict that BridgeBio Pharma will post -3.09 EPS for the current year.

BridgeBio Pharma Company Profile

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.