BridgeBio Pharma (NASDAQ:BBIO) Director Sells 17,167 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the sale, the director owned 22,579 shares of the company’s stock, valued at approximately $1,896,636. This represents a 43.19% decrease in their position. 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 Stock Performance

BBIO stock traded down $2.81 during midday trading on Monday, hitting $83.08. 3,372,446 shares of the company’s stock were exchanged, compared to its average volume of 3,149,090. The stock’s fifty day moving average price is $69.76 and its 200-day moving average price is $72.09. The company has a market cap of $16.27 billion, a PE ratio of -22.21 and a beta of 0.95. BridgeBio Pharma, Inc. has a one year low of $42.09 and a one year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma’s quarterly revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.88) EPS. On average, analysts expect that BridgeBio Pharma, Inc. will post -2.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BBIO. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after buying an additional 2,178,556 shares during the last quarter. Farallon Capital Management LLC boosted its position in BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after acquiring an additional 806,463 shares during the last quarter. Invesco Ltd. grew its stake in shares of BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after acquiring an additional 502,582 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BBIO has been the subject of a number of research reports. Morgan Stanley increased their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Truist Financial lifted their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target for the company. HC Wainwright increased their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho dropped their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Twenty-one 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.40.

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.