BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 20.0% in June

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 20,000,000 shares, an increase of 20.0% from the June 15th total of 16,660,000 shares. Approximately 14.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is presently 10.3 days.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. UBS Group dropped their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Bank of America decreased their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.21.

Insiders Place Their Bets

In other news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $158,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBIO. American Century Companies Inc. raised its position in BridgeBio Pharma by 2,671.2% in the 3rd quarter. American Century Companies Inc. now owns 308,292 shares of the company’s stock valued at $8,130,000 after buying an additional 297,167 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $37,434,000. Diversified Trust Co boosted its holdings in shares of BridgeBio Pharma by 3.1% in the 4th quarter. Diversified Trust Co now owns 17,636 shares of the company’s stock worth $712,000 after buying an additional 525 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in BridgeBio Pharma in the fourth quarter worth about $300,000. Finally, Raymond James & Associates purchased a new position in BridgeBio Pharma in the fourth quarter valued at about $366,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Up 3.7 %

BBIO traded up $0.99 during trading on Monday, hitting $28.11. The company’s stock had a trading volume of 683,374 shares, compared to its average volume of 1,851,947. The stock’s fifty day moving average price is $27.37 and its 200-day moving average price is $30.56. The firm has a market capitalization of $5.26 billion, a P/E ratio of -8.45 and a beta of 1.06. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. Equities research analysts expect that BridgeBio Pharma will post -3.2 EPS for the current fiscal year.

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.