Neil Kumar Sells 34,980 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 34,980 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40. Following the transaction, the chief executive officer owned 243,327 shares of the company’s stock, valued at $20,081,777.31. This trade represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 19th, Neil Kumar sold 10,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $84.03, for a total value of $840,300.00.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $81.50 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $46.81 and a fifty-two week high of $93.42. The company has a 50 day simple moving average of $78.85 and a two-hundred day simple moving average of $73.32. The company has a market capitalization of $15.93 billion, a PE ratio of -22.83 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter in the prior year, the business earned ($0.95) EPS. The business’s revenue for the quarter was up 120.4% on a year-over-year basis. Research analysts predict that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BBIO. Mizuho dropped their target price 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. Piper Sandler increased their price target on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Bank of America increased their price target on BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Canaccord Genuity Group lifted their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $100.79.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in BridgeBio Pharma by 139.4% in the first quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock worth $2,431,000 after purchasing an additional 19,043 shares during the period. Geode Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after purchasing an additional 502,582 shares during the period. Nan Fung Trinity HK Ltd. acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $8,422,000. Assetmark Inc. raised its holdings in shares of BridgeBio Pharma by 423.7% during the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock valued at $1,544,000 after purchasing an additional 16,820 shares during the period. Finally, Thrivent Financial for Lutherans bought a new position in shares of BridgeBio Pharma during the 4th quarter worth about $4,567,000. Institutional investors 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.