BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 6.4% – What’s Next?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) fell 6.4% during trading on Tuesday . The stock traded as low as $69.17 and last traded at $67.77. 911,774 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 2,860,165 shares. The stock had previously closed at $72.38.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of BridgeBio Pharma in a research report on Thursday, September 10th. TD Cowen upped their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group upped their price target on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.61.

BridgeBio Pharma Trading Down 0.1%

The company’s fifty day moving average is $80.15 and its 200-day moving average is $73.76. The firm has a market capitalization of $13.35 billion, a P/E ratio of -19.13 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. The company’s revenue was up 120.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.95) EPS. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.65 EPS for the current year.

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,196 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72. Following the completion of the sale, the director owned 9,259 shares in the company, valued at $634,889.63. This represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. This trade represents a 1.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 257,103 shares of company stock valued at $21,579,211. 14.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of BBIO. Jupiter Topco LLC acquired a new position in BridgeBio Pharma during the 2nd quarter valued at $1,050,762,000. Janus Henderson Group PLC increased its holdings in shares of BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after purchasing an additional 2,178,556 shares during the period. Geode Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after purchasing an additional 502,582 shares during the period. Brooklands Fund Management Ltd acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $210,348,000. Finally, Franklin Resources Inc. raised its position in shares of BridgeBio Pharma by 49.9% during the fourth quarter. Franklin Resources Inc. now owns 2,164,928 shares of the company’s stock valued at $165,595,000 after buying an additional 720,905 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.