A company insider recently sold 120,000 shares of BridgeBio Pharma Inc. [BBIO]. Should You Sale?


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BridgeBio Pharma Inc. shares valued at $1,315,224 were sold by Kumar Neil on Mar 03. At $10.96 per share, Kumar Neil sold 120,000 shares. The insider’s holdings dropped to 1,252,722 shares worth approximately $19.33 million following the completion of this transaction.

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Also, STEPHENSON BRIAN C sold 62,692 shares, netting a total of over 687,148 in proceeds. Following the sale of shares at $10.96 each, the insider now holds 156,837 shares.

Before that, Kumar Neil had sold 44,798 shares from its account. In a trade valued at $569,073, the CEO and President traded BridgeBio Pharma Inc. shares for $12.70 each. Upon closing the transaction, the insider’s holdings decreased to 44,798 shares, worth approximately $74.27 million.

As published in their initiating research note from Cowen on February 06, 2023, BridgeBio Pharma Inc. [BBIO] has been an Outperform. Analysts at SVB Leerink resumed the stock at ‘”an Outperform”‘ outlook in a report released in late December. As of December 27, 2021, Mizuho has reiterated its “Buy” rating for BBIO. Earlier on September 10, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for BBIO stock which previously was a “a Neutral”.

Analyzing BBIO Stock Performance

On Thursday, BridgeBio Pharma Inc. [NASDAQ: BBIO] plunged -5.91% to $15.43. The stock’s lowest price that day was $15.245, but it reached a high of $16.60 in the same session. During the last five days, there has been a surge of approximately 41.82%. Over the course of the year, BridgeBio Pharma Inc. shares have jumped approximately 102.49%. Shares of the company reached a 52-week high of $19.94 on 03/07/23 and a 52-week low of $7.10 on 01/03/23. A 50-day SMA is recorded $10.35, while a 200-day SMA reached $9.80. Nevertheless, trading volume fell to 3.72 million shares from 13.04 million shares the previous day.

Support And Resistance Levels for BridgeBio Pharma Inc. (BBIO)

According to the 24-hour chart, there is a support level at 14.92, which, if violated, would cause prices to drop to 14.40. In the upper region, resistance lies at 16.27. The next price resistance is at 17.11. RSI (Relative Strength Index) is 62.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.69, which suggests the price will increase in the coming days. Percent R is at 48.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is BridgeBio Pharma Inc. subject to short interest?

Stocks of BridgeBio Pharma Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.35 million shares to 18.65 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 19.0 million shares. A decline of -1.88% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 14.06 of the overall float, the days-to-cover ratio (short ratio) decline to 14.06.

Which companies own the most shares of BridgeBio Pharma Inc. (BBIO)?

According to Viking Global Investors LP filings, the company currently owns 26,620,991 shares, which is about 17.81% of the total BBIO shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $96,339,253. SSgA Funds Management, Inc. acquire a 11.36% interest valued at $82.08 million while BlackRock Fund Advisors purchased a 292,378 stake. A total of 0 shares of BridgeBio Pharma Inc. were bought by Aisling Capital Management LP during the quarter, and -174,789 were sold by HHLR Advisors Ltd. In its current portfolio, AIG Asset Management holds 3,670,000 shares valued at $34.06 million.

In terms of BridgeBio Pharma Inc. share price expectations, FactSet research, analysts set an average price target of $25.25 in the next 12 months, up nearly 49.39% from the previous closing price of $16.40. Analysts anticipate BridgeBio Pharma Inc. stock to reach $32.00 by 2023, with the lowest price target being $18.00. In spite of this, 9 analysts ranked BridgeBio Pharma Inc. stock as a Buy at the end of 2023. On May 21, 2021, UBS assigned a price target of “a Buy” to the stock and initiated coverage with a $80.


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