Andrea Ellis Sells 64,921 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 64,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the sale, the director owned 18,589 shares of the company’s stock, valued at approximately $1,205,868.43. This trade represents a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

BridgeBio Pharma Stock Down 1.2%

BBIO stock traded down $0.81 during midday trading on Friday, hitting $65.36. 3,243,909 shares of the company traded hands, compared to its average volume of 3,213,834. BridgeBio Pharma, Inc. has a twelve month low of $28.33 and a twelve month high of $84.94. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of -17.29 and a beta of 1.13. The business has a 50 day simple moving average of $73.85 and a 200-day simple moving average of $65.11.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. During the same period last year, the firm earned ($1.40) EPS. The company’s revenue was up 2521.2% compared to the same quarter last year. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analyst Ratings Changes

BBIO has been the topic of several research analyst reports. HC Wainwright raised their price target on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Sanford C. Bernstein started coverage on BridgeBio Pharma in a research note on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price for the company. Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the company an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Leerink Partners upped their price target on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $82.50.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. Envestnet Asset Management Inc. raised its stake in shares of BridgeBio Pharma by 204.1% in the second quarter. Envestnet Asset Management Inc. now owns 39,487 shares of the company’s stock valued at $1,705,000 after purchasing an additional 26,500 shares in the last quarter. Bank of Montreal Can lifted its position in BridgeBio Pharma by 6.0% in the second quarter. Bank of Montreal Can now owns 9,865 shares of the company’s stock worth $426,000 after purchasing an additional 556 shares during the period. Savant Capital LLC acquired a new stake in BridgeBio Pharma during the second quarter worth $218,000. Finally, Fox Run Management L.L.C. bought a new stake in BridgeBio Pharma in the 2nd quarter valued at $2,746,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

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.