BridgeBio Pharma (NASDAQ:BBIO) CFO Thomas Trimarchi Sells 13,651 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Thomas Trimarchi sold 13,651 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the transaction, the chief financial officer directly owned 359,194 shares in the company, valued at $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Up 1.0%

Shares of NASDAQ:BBIO opened at $66.00 on Wednesday. BridgeBio Pharma, Inc. has a twelve month low of $31.77 and a twelve month high of $84.94. The stock’s 50 day moving average is $71.37 and its 200-day moving average is $71.79. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of -17.65 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter last year, the firm earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors have recently bought and sold shares of BBIO. Aster Capital Management DIFC Ltd purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $35,000. Huntington National Bank increased its position in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BBIO. Mizuho reaffirmed an “outperform” rating and set a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Morgan Stanley upped their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Wells Fargo & Company upped their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, William Blair started coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating for the company. Twenty-three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.90.

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.