BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 40,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $73.97, for a total value of $2,958,800.00. Following the transaction, the chief executive officer directly owned 735,686 shares of the company’s stock, valued at $54,418,693.42. The trade was a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 15th, Neil Kumar sold 30,011 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.64, for a total transaction of $2,240,021.04.
• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00.
• 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 transaction of $2,526,000.00.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded down $0.41 on Monday, hitting $76.84. 5,081,142 shares of the stock traded hands, compared to its average volume of 1,846,433. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of -18.38 and a beta of 1.17. BridgeBio Pharma, Inc. has a 52 week low of $28.10 and a 52 week high of $78.58. The firm has a 50 day simple moving average of $71.75 and a two-hundred day simple moving average of $58.17.

BridgeBio Pharma (NASDAQ:BBIO) last released its 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 firm had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. The business’s revenue was up 4318.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.86) earnings per share. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BBIO. Leerink Partners upped their price target on BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a report on Monday. Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $71.00 price target (up from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Twenty-two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.85.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth $35,000. Finally, First Horizon Corp purchased a new stake in BridgeBio Pharma in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.