Deep-pocketed investors have adopted a bullish approach towards BridgeBio Pharma BBIO, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BBIO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for BridgeBio Pharma. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $1,085,600, and 6 are calls, amounting to $400,980.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $55.0 for BridgeBio Pharma during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for BridgeBio Pharma's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of BridgeBio Pharma's whale trades within a strike price range from $30.0 to $55.0 in the last 30 days.
BridgeBio Pharma Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BBIO | PUT | TRADE | BULLISH | 08/16/24 | $6.0 | $4.1 | $4.6 | $30.00 | $920.0K | 654 | 0 |
| BBIO | PUT | SWEEP | BEARISH | 08/16/24 | $11.5 | $11.4 | $11.5 | $40.00 | $136.8K | 247 | 145 |
| BBIO | CALL | TRADE | BULLISH | 08/16/24 | $0.45 | $0.0 | $0.45 | $55.00 | $112.5K | 5.5K | 0 |
| BBIO | CALL | SWEEP | BULLISH | 08/16/24 | $3.1 | $3.0 | $3.1 | $35.00 | $100.1K | 3.0K | 644 |
| BBIO | CALL | SWEEP | NEUTRAL | 08/16/24 | $1.65 | $1.2 | $1.6 | $40.00 | $80.0K | 6.1K | 500 |
About BridgeBio Pharma
BridgeBio Pharma Inc is involved in identifying advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. Its product pipeline categories include Mendelian, Genetic Dermatology, Oncology, and Gene therapy. The company focus on genetic diseases because they exist at the intersection of high unmet patient need and tractable biology.
Having examined the options trading patterns of BridgeBio Pharma, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is BridgeBio Pharma Standing Right Now?
- With a volume of 625,115, the price of BBIO is up 2.5% at $30.72.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 77 days.
Professional Analyst Ratings for BridgeBio Pharma
In the last month, 1 experts released ratings on this stock with an average target price of $50.0.
- In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $50.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for BridgeBio Pharma, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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