10 Best High Short Interest Stocks With Huge Upside Potential

8. BridgeBio Pharma Inc. (NASDAQ:BBIO)

Short % of Float as of June 13: 18.75%

Number of Hedge Fund Holders: 59

Average Upside Potential as of July 3: 31.85%

BridgeBio Pharma Inc. (NASDAQ:BBIO) is one of the best high short interest stocks with huge upside potential. On June 30, BridgeBio Pharma announced that it had raised $300 million through a partial capped monetization of its European royalty rights for BEYONTTRA. This financing agreement was made with HealthCare Royalty (HCRx) and funds managed by Blue Owl Capital.

Under the agreement, BridgeBio received an upfront payment of $300 million in exchange for 60% of the royalties on the first $500 million of annual BEYONTTRA net sales in Europe. The total payments to the investors are subject to an initial cap of 1.45x the upfront investment, so once this cap is reached, no further payments will be owed to HCRx and Blue Owl.

BEYONTTRA (acoramidis) is an orally administered, near-complete stabilizer of transthyretin, shown for the treatment of wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy. The deal provides BridgeBio with immediate and less dilutive capital, which will strengthen the company’s balance sheet and support the ongoing launch of Attruby in the US and its late-stage pipeline programs.

BridgeBio Pharma Inc. (NASDAQ:BBIO) is a commercial-stage biopharmaceutical company that discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers.