Short Interest in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Grows By 12.7%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 19,300,000 shares, an increase of 12.7% from the December 31st total of 17,120,000 shares. Based on an average daily volume of 1,940,000 shares, the short-interest ratio is currently 9.9 days. Approximately 13.1% of the shares of the company are sold short.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $3.18 on Monday, hitting $31.03. The company’s stock had a trading volume of 5,108,511 shares, compared to its average volume of 3,015,639. The company has a 50-day simple moving average of $30.11 and a 200 day simple moving average of $27.19. The company has a market capitalization of $5.86 billion, a PE ratio of -12.88 and a beta of 1.05. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,492,093 shares of company stock valued at $122,029,004. Insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Emerald Advisers LLC raised its position in BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after purchasing an additional 437,164 shares in the last quarter. First Turn Management LLC bought a new stake in BridgeBio Pharma during the third quarter worth about $10,178,000. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of BridgeBio Pharma by 50.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock worth $19,129,000 after purchasing an additional 253,101 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $3,497,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Leerink Partners cut their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Evercore ISI boosted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

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.