BridgeBio Pharma Inc. [NASDAQ: BBIO] stock went on an upward path that rose over 51.98% on Monday, amounting to a one-week price increase of more than 42.66%. The company report on March 6, 2023 that BridgeBio Pharma Announces Proposed Public Offering of Common Stock.
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Goldman Sachs & Co. LLC, Evercore, and Morgan Stanley are acting as book-running managers for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering.
Over the last 12 months, BBIO stock rose by 109.38%. The one-year BridgeBio Pharma Inc. stock forecast points to a potential upside of 21.78. The average equity rating for BBIO stock is currently 1.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.50 billion, with 149.37 million shares outstanding and 107.05 million shares in the current float. Compared to the average trading volume of 1.48M shares, BBIO stock reached a trading volume of 30427988 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on BridgeBio Pharma Inc. [BBIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBIO shares is $21.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBIO stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for BridgeBio Pharma Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 06, 2023. While these analysts kept the previous recommendation, SVB Leerink dropped their target price from $66 to $24. The new note on the price target was released on December 27, 2021, representing the official price target for BridgeBio Pharma Inc. stock. Previously, the target price had yet another drop from $86 to $25, while Mizuho kept a Buy rating on BBIO stock.
The Average True Range (ATR) for BridgeBio Pharma Inc. is set at 1.32, with the Price to Sales ratio for BBIO stock in the period of the last 12 months amounting to 32.25.
BBIO Stock Performance Analysis:
BridgeBio Pharma Inc. [BBIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.66. With this latest performance, BBIO shares gained by 48.56% in over the last four-week period, additionally plugging by 61.64% over the last 6 months – not to mention a rise of 109.38% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBIO stock in for the last two-week period is set at 78.27, with the RSI for the last a single of trading hit 82.62, and the three-weeks RSI is set at 74.49 for BridgeBio Pharma Inc. [BBIO]. The present Moving Average for the last 50 days of trading for this stock 9.83, while it was recorded at 12.20 for the last single week of trading, and 9.66 for the last 200 days.
Insight into BridgeBio Pharma Inc. Fundamentals:
BridgeBio Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 4.50.
BridgeBio Pharma Inc. [BBIO] Insider Position Details
There are presently around $2,392 million, or 98.10% of BBIO stock, in the hands of institutional investors. The top three institutional holders of BBIO stocks are: KOHLBERG KRAVIS ROBERTS & CO. L.P. with ownership of 31,060,971, which is approximately 0% of the company’s market cap and around 4.30% of the total institutional ownership; VIKING GLOBAL INVESTORS LP, holding 26,620,991 shares of the stock with an approximate value of $439.78 million in BBIO stocks shares; and VANGUARD GROUP INC, currently with $174.97 million in BBIO stock with ownership of nearly 5.869% of the company’s market capitalization.
Positions in BridgeBio Pharma Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 83 institutional holders increased their position in BridgeBio Pharma Inc. [NASDAQ:BBIO] by around 8,101,735 shares. Additionally, 98 investors decreased positions by around 8,831,450 shares, while 27 investors held positions by with 127,857,583 shares. The mentioned changes placed institutional holdings at 144,790,768 shares, according to the latest SEC report filing. BBIO stock had 25 new institutional investments in for a total of 883,014 shares, while 26 institutional investors sold positions of 3,702,756 shares during the same period.