BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $840,300.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total transaction of $840,300.00. Following the completion of the sale, the chief executive officer owned 505,686 shares of the company’s stock, valued at $42,492,794.58. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00.

BridgeBio Pharma Trading Down 1.7%

Shares of BBIO opened at $81.50 on Friday. BridgeBio Pharma, Inc. has a 12 month low of $46.81 and a 12 month high of $93.42. The firm’s 50 day moving average is $78.85 and its 200-day moving average is $73.32. The stock 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 the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. The company’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.95) EPS. Equities research analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Wells Fargo & Company raised their price target on BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Citigroup boosted their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Canaccord Genuity Group upped their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Piper Sandler upped their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Twenty equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in BridgeBio Pharma by 139.4% in the first quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock valued at $2,431,000 after buying an additional 19,043 shares in the last quarter. Geode Capital Management LLC raised its stake in BridgeBio Pharma by 12.9% during the fourth 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. Nan Fung Trinity HK Ltd. acquired a new position in BridgeBio Pharma during the fourth quarter worth about $8,422,000. Assetmark Inc. lifted its holdings in shares of BridgeBio Pharma by 423.7% in the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock worth $1,544,000 after acquiring an additional 16,820 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $4,567,000. 99.85% of the stock is currently owned by institutional investors.

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.