A look into BridgeBio Pharma Inc. (BBIO)’s deeper side

BridgeBio Pharma Inc. (NASDAQ: BBIO) stock jumped 3.44% on Friday to $8.43 against a previous-day closing price of $8.15. With 1.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.23 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.44 whereas the lowest price it dropped to was $8.13. The 52-week range on BBIO shows that it touched its highest point at $12.64 and its lowest point at $4.98 during that stretch. It currently has a 1-year price target of $21.67. Beta for the stock currently stands at 0.62.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BBIO was down-trending over the past week, with a drop of -3.33%, but this was down by -1.29% over a month. Three-month performance dropped to -15.70% while six-month performance fell -14.76%. The stock lost -27.95% in the past year, while it has gained 10.63% so far this year. A look at the trailing 12-month EPS for BBIO yields -3.35 with Next year EPS estimates of -3.30. For the next quarter, that number is -0.91. This implies an EPS growth rate of -2.50% for this year and -0.90% for next year.

Float and Shares Shorts:

At present, 147.94 million BBIO shares are outstanding with a float of 107.05 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.12 million, which was 15.59% higher than short shares on Sep 14, 2022. In addition to Dr. Neil Kumar Ph.D. as the firm’s Co-Founder, Pres, CEO & Director, Dr. Charles J. Homcy M.D. serves as its Co-Founder, Chairman of Pharmaceuticals & Independent Lead Director.

Institutional Ownership:

Through their ownership of 95.63% of BBIO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.04% of BBIO, in contrast to 52.59% held by mutual funds. Shares owned by individuals account for 22.60%. As the largest shareholder in BBIO with 17.81% of the stake, Viking Global Investors LP holds 26,620,991 shares worth 26,620,991. A second-largest stockholder of BBIO, The Vanguard Group, Inc., holds 9,796,808 shares, controlling over 6.55% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BBIO, holding 7,942,811 shares or 5.31% stake. With a 4.24% stake in BBIO, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 6,334,260 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.10% of BBIO stock, is the second-largest Mutual Fund holder. It holds 3,145,370 shares valued at 23.97 million. Vanguard Small Cap Index Fund holds 1.80% of the stake in BBIO, owning 2,696,078 shares worth 20.54 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BBIO since 9 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BBIO analysts setting a high price target of $32.00 and a low target of $15.00, the average target price over the next 12 months is $22.56. Based on these targets, BBIO could surge 279.6% to reach the target high and rise by 77.94% to reach the target low. Reaching the average price target will result in a growth of 167.62% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BBIO will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$2.40 being high and -$3.81 being low. For BBIO, this leads to a yearly average estimate of -$3.18. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. BridgeBio Pharma Inc. surprised analysts by $0.04 when it reported -$0.93 EPS against a consensus estimate of -$0.97. The surprise factor in the prior quarter was $0.49. Based on analyst estimates, the high estimate for the next quarter is -$0.71 and the low estimate is -$1.47. The average estimate for the next quarter is thus -$0.88.

Summary of Insider Activity:

Insiders traded BBIO stock several times over the past three months with 4 Buys and 7 Sells. In these transactions, 106,129 shares were bought while 301,580 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 342,821 while 380,835 shares were sold.

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