BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 12.7% in January

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 19,300,000 shares, a growth 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 presently 9.9 days. Currently, 13.1% of the shares of the stock are short sold.

Insider Activity

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value 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 approximately $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. Insiders sold 3,492,093 shares of company stock worth $122,029,004 over the last ninety days. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Values First Advisors Inc. acquired a new stake in BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC raised its holdings in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of BridgeBio Pharma by 56.1% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 acquiring an additional 801 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $181,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded down $2.66 during trading hours on Monday, hitting $31.55. 3,367,376 shares of the company’s stock traded hands, compared to its average volume of 2,921,524. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $41.04. The stock’s fifty day moving average price is $30.11 and its two-hundred day moving average price is $27.19. The firm has a market cap of $5.96 billion, a P/E ratio of -13.09 and a beta of 1.05.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BBIO. Scotiabank increased their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Evercore ISI lifted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.