BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Down 7.9% in January

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 18,780,000 shares, a decrease of 7.9% from the January 15th total of 20,380,000 shares. Approximately 12.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,470,000 shares, the days-to-cover ratio is currently 7.6 days.

BridgeBio Pharma Stock Up 10.6 %

BridgeBio Pharma stock traded up $3.34 during mid-day trading on Monday, reaching $34.90. 3,372,917 shares of the company’s stock traded hands, compared to its average volume of 3,171,595. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $41.04. The stock has a 50 day moving average of $31.15 and a two-hundred day moving average of $27.60. The company has a market cap of $6.60 billion, a price-to-earnings ratio of -14.48 and a beta of 1.07.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,492,093 shares of company stock worth $122,029,004 over the last quarter. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. Ironwood Investment Management LLC boosted its stake in BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock worth $1,733,000 after buying an additional 338 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of BridgeBio Pharma by 3.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 14,706 shares of the company’s stock worth $404,000 after acquiring an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. 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 valued at $135,000 after purchasing an additional 801 shares during the last quarter. Finally, Xponance Inc. raised its position in BridgeBio Pharma by 9.1% in the 4th quarter. Xponance Inc. now owns 10,089 shares of the company’s stock worth $277,000 after purchasing an additional 844 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BBIO has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. Bank of America boosted 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. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday. Finally, Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.08.

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.