High-rolling investors have positioned themselves bearish on BridgeBio Pharma BBIO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BBIO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for BridgeBio Pharma. This is not a typical pattern.
The sentiment among these major traders is split, with 16% bullish and 83% bearish. Among all the options we identified, there was one put, amounting to $69,550, and 11 calls, totaling $446,551.
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 $20.0 to $35.0 for BridgeBio Pharma during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $20.0 to $35.0 in the last 30 days.
BridgeBio Pharma Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BBIO | CALL | SWEEP | BEARISH | 01/16/26 | $6.0 | $3.9 | $3.9 | $35.00 | $87.3K | 4.1K | 6.1K |
| BBIO | CALL | SWEEP | BEARISH | 01/16/26 | $4.1 | $4.0 | $4.0 | $35.00 | $76.8K | 4.1K | 6.3K |
| BBIO | PUT | SWEEP | BEARISH | 01/17/25 | $1.4 | $1.1 | $1.4 | $20.00 | $69.5K | 283 | 500 |
| BBIO | CALL | SWEEP | BEARISH | 01/16/26 | $4.5 | $3.8 | $3.8 | $35.00 | $44.4K | 4.1K | 5.5K |
| BBIO | CALL | SWEEP | BEARISH | 02/21/25 | $2.4 | $2.2 | $2.15 | $30.00 | $42.6K | 1.6K | 446 |
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.
After a thorough review of the options trading surrounding BridgeBio Pharma, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
BridgeBio Pharma's Current Market Status
- Trading volume stands at 2,706,712, with BBIO's price up by 0.59%, positioned at $25.55.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 37 days.
Expert Opinions on BridgeBio Pharma
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $48.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from B of A Securities persists with their Buy rating on BridgeBio Pharma, maintaining a target price of $42. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $46. * Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $43. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $70. * An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $43.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
