BridgeBio Pharma (NASDAQ:BBIO) Shares Up 7.2% – Should You Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares shot up 7.2% during trading on Friday . The stock traded as high as $34.11 and last traded at $33.83. 1,491,798 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,661,410 shares. The stock had previously closed at $31.56.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBIO. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday. Scotiabank lifted their target price on BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Evercore ISI lifted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

BridgeBio Pharma Stock Performance

The stock has a 50-day simple moving average of $31.15 and a 200-day simple moving average of $27.59.

Insiders Place Their Bets

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 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 of the company’s stock, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,492,093 shares of company stock worth $122,029,004. 24.66% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC lifted its holdings in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at $41,000. Sterling Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at $57,000. Finally, CWM LLC lifted its holdings in shares of 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 purchasing an additional 1,964 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.