Jennifer Cook Sells 90,240 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 90,240 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $66.62, for a total transaction of $6,011,788.80. Following the transaction, the director owned 6,589 shares of the company’s stock, valued at approximately $438,959.18. This represents a 93.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $66.27 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $84.94. The firm has a market capitalization of $12.98 billion, a P/E ratio of -17.72 and a beta of 0.97. The company’s 50 day moving average price is $69.78 and its two-hundred day moving average price is $72.00.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 business had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the previous year, the firm posted ($0.88) earnings per share. The business’s revenue was up 66.8% on a year-over-year basis. On average, analysts expect that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC raised its position in shares of BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $41,000. Cary Street Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after purchasing an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in BridgeBio Pharma during the 4th quarter valued at approximately $44,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

BBIO has been the subject of several research reports. Mizuho dropped their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Truist Financial upped their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Leerink Partners reiterated an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, Citigroup started coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 target price on the stock. Twenty-two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $91.05.

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.