Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BridgeBio Pharma Inc. shares valued at $722,218 were sold by Kumar Neil on May 17. At $14.01 per share, Kumar Neil sold 51,552 shares. The insider’s holdings dropped to 4,813,197 shares worth approximately $65.17 million following the completion of this transaction.
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Also, STEPHENSON BRIAN C sold 24,424 shares, netting a total of over 342,168 in proceeds. Following the sale of shares at $14.01 each, the insider now holds 36,408 shares.
Before that, Kumar Neil had sold 120,000 shares from its account. In a trade valued at $1,701,744, the CEO and President traded BridgeBio Pharma Inc. shares for $14.18 each. Upon closing the transaction, the insider’s holdings decreased to 120,000 shares, worth approximately $13.71 million.
Analyzing BBIO Stock Performance
On Thursday, BridgeBio Pharma Inc. [NASDAQ: BBIO] rose 1.88% to $13.54. The stock’s lowest price that day was $12.75, but it reached a high of $13.64 in the same session. During the last five days, there has been a drop of approximately -3.15%. Over the course of the year, BridgeBio Pharma Inc. shares have jumped approximately 77.69%. 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 $14.64, while a 200-day SMA reached $11.41. Nevertheless, trading volume fell to 2.12 million shares from 1.21 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 12.98, which, if violated, would cause prices to drop to 12.42. In the upper region, resistance lies at 13.87. The next price resistance is at 14.20. RSI (Relative Strength Index) is 44.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.35, which suggests the price will decrease in the coming days. Percent R is at 64.25%, 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 May 14, 2023 dropping by -1.6 million shares to 13.29 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 14.89 million shares. A decline of -12.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.29 of the overall float, the days-to-cover ratio (short ratio) decline to 7.29.
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 16.62% of the total BBIO shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $171,883,869. BlackRock Fund Advisors reduced a -2.76% interest valued at $109.1 million while Aisling Capital Management LP 0 stake. In its current portfolio, HHLR Advisors Ltd. holds 3,978,410 shares valued at $57.77 million.
In terms of BridgeBio Pharma Inc. share price expectations, FactSet research, analysts set an average price target of $28.60 in the next 12 months, up nearly 118.21% from the previous closing price of $13.29. Analysts anticipate BridgeBio Pharma Inc. stock to reach $40.00 by 2023, with the lowest price target being $18.00. In spite of this, 11 analysts ranked BridgeBio Pharma Inc. stock as a Buy at the end of 2023.