BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,976,000.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00. Following the sale, the chief executive officer owned 775,686 shares of the company’s stock, valued at $57,711,038.40. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Neil Kumar also recently made the following trade(s):

• On Thursday, November 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The stock was sold at an average price of $65.84, for a total value of $1,722,111.04.
• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $63.15, for a total value of $2,526,000.00.
• On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $54.78, for a total value of $2,191,200.00.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $72.70 on Thursday. BridgeBio Pharma, Inc. has a 52-week low of $25.34 and a 52-week high of $75.10. The company’s 50 day moving average price is $63.23 and its 200-day moving average price is $52.10. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of -17.39 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The firm’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.86) earnings per share. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma in the 2nd quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma in the third quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma during the third quarter valued at approximately $34,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Finally, First Horizon Corp bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $36,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBIO. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. UBS Group boosted their target price on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, September 12th. The Goldman Sachs Group upped their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Piper Sandler raised their price target on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Cowen reissued a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.