Why BridgeBio Pharma Inc. (BBIO) Crashed on Monday

We recently compiled a list of the The 10 Worst-Performing Stocks on Monday. In this article, we are going to take a look at where BridgeBio Pharma Inc. (NASDAQ:BBIO) stands against the other stocks.

Ten companies kicked off this week’s trading with significant losses, mirroring a wider market pessimism over growing trade tensions.

The declines came following the US imposition of additional tariffs on goods from Canada, Mexico, and China, and signals of potential retaliation of taxes on US goods.

On Monday, the Dow Jones lost another 0.28 percent, while the S&P 500 and the Nasdaq Composite both registered steep declines of 0.76 percent and 1.20 percent, respectively. The slump came following President Donald Trump’s announcements that he would slap a 25-percent tariff on Canadian and Mexican goods, while a special 60-percent rate would be taxed on Chinese products.

Our list of Monday’s top losers only considered the companies with at least $2 billion in market capitalization and $5 million in daily trading volume.

A team of scientists in white lab coats reviewing lab results in a research facility.

BridgeBio Pharma Inc. (NASDAQ:BBIO)

BridgeBio Pharma’s shares plummeted by 9.3 percent on Monday to finish at $31.03 each after one of its largest investors, Global Investors Lp Viking, disposed of 3.06 million shares in the company for a transaction worth nearly $107 million. The sell-off marked a 12-percent slash in its ownership in BridgeBio.

Following the sale, Global Investors now owns 22 million shares of BridgeBio’s stock, valued at $769.7 million.

BridgeBio Pharma is a commercial-stage biopharmaceutical company committed to the discovery, development, and commercialization of pioneering medicines for patients with genetic diseases and genetically driven cancers. By leveraging cutting-edge science and a deep understanding of genetics, the company aims to provide targeted, transformative treatments that address the root causes of these conditions.

Overall BBIO ranks 1st on our list list of the worst performing stocks on Monday. While we acknowledge the potential of BBIO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than BBIO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.