Recent Insider Activity Suggests Potential Gains for BridgeBio Pharma Inc. (BBIO)


BridgeBio Pharma Inc.’s filing revealed that its CEO and President Kumar Neil unloaded Company’s shares for reported $1.47 million on Aug 17. In the deal valued at $28.59 per share,51,552 shares were sold. As a result of this transaction, Kumar Neil now holds 4,813,197 shares worth roughly $ 147.19 million.

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Then, STEPHENSON BRIAN C sold 22,683 shares, generating $648,455 in total proceeds. Upon selling the shares at $28.59, the Secretary, Treasurer & CFO now owns 36,710 shares.

Before that, VIKING GLOBAL INVESTORS LP sold 1,500,000 shares. BridgeBio Pharma Inc. shares valued at $52,500,000 were divested by the 10% Owner at a price of $35.00 per share. As a result of the transaction, VIKING GLOBAL INVESTORS LP now holds 25,120,991 shares, worth roughly $768.2 million.

Jefferies downgraded its BridgeBio Pharma Inc. [BBIO] rating to a Hold from a a Buy in a research note published on Friday, July 18, 2023; the price target was increased to $33 from $24. PT values the company’s stock at a premium of 7.33 to its Friday closing price.

Price Performance Review of BBIO

On Friday, BridgeBio Pharma Inc. [NASDAQ:BBIO] saw its stock jump 2.24% to $30.58. On the same session, the stock had its day’s lowest price of $29.73, but rose to a high of $30.755. Over the last five days, the stock has gained 3.03%. BridgeBio Pharma Inc. shares have risen nearly 301.31% since the year began. Nevertheless, the stocks have risen 191.24% over the past one year. While a 52-week high of $36.36 was reached on 07/18/23, a 52-week low of $6.64 was recorded on 01/03/23. SMA at 50 days reached $27.10, while 200 days put it at $15.96. A total of 1.27 million shares were traded, compared to the trading of 1.33 million shares in the previous session.

Levels Of Support And Resistance For BBIO Stock

The 24-hour chart illustrates a support level at 29.95, which if violated will result in even more drops to 29.33. On the upside, there is a resistance level at 30.98. A further resistance level may holdings at 31.38. The Relative Strength Index (RSI) on the 14-day chart is 55.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.45%. Stochastics %K at 64.31% indicates the stock is a holding.

How much short interest is there in BridgeBio Pharma Inc.?

A steep rise in short interest was recorded in BridgeBio Pharma Inc. stocks on Aug 14, 2023, growing by 0.84 million shares to a total of 15.66 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.82 million shares. There was a rise of 5.36%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 16.46% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.02.

BridgeBio Pharma Inc. [BBIO] – Who Are The Largest Shareholders?

In filings from Viking Global Investors LP, it is revealed that the company now owns 25,120,991 shares, or roughly 15.65% of the outstanding BBIO shares. In other words, the investor’s shares have fallen by -1,500,000 from its previous 13-F filing of 26620991.0. Additionally, The Vanguard Group, Inc. decreased -3.60% of its stake after which the total value it holdings stand at $399,510,418, while BlackRock Fund Advisors added 6.83% of its stake to hold $281.02 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,926,347 shares of BridgeBio Pharma Inc., while Aisling Capital Management LP bought 0 shares. At present, Laurion Capital Management LP is holding 4,749,343 shares valued at $166.27 million. Cormorant Asset Management LP owned 4,169,179 shares of the company at the time of its most recent 13F filing, worth $145.96 million.

According to FactSet, BridgeBio Pharma Inc.’s share price will average $46.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 60.48 percent from its previous closing price of $29.91. Analysts expect BridgeBio Pharma Inc. stock to reach the higher price of $60.00, while the lowest price estimate is $33.00. However, 11 analysts have rated BBIO stock as a Buy in their predictions for 2023.


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