BridgeBio Pharma (NASDAQ:BBIO) Stock Price Up 6.6% – Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares traded up 6.6% on Tuesday . The company traded as high as $36.15 and last traded at $35.96. 2,596,130 shares traded hands during trading, a decline of 4% from the average session volume of 2,707,698 shares. The stock had previously closed at $33.73.

Analyst Upgrades and Downgrades

A number of research firms have commented on BBIO. Scotiabank increased their price objective 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. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Bank of America lifted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Stock Performance

The business’s 50 day moving average price is $27.37 and its 200-day moving average price is $26.41. The firm has a market capitalization of $6.45 billion, a PE ratio of -14.15 and a beta of 1.05.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at about $57,000. CWM LLC raised its holdings in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after acquiring an additional 1,645 shares during the last quarter. Amalgamated Bank grew its holdings in BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after acquiring an additional 801 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.