Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $690,800.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 10,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $69.08, for a total transaction of $690,800.00. Following the completion of the sale, the chief executive officer owned 495,686 shares of the company’s stock, valued at approximately $34,241,988.88. This represents a 1.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $840,300.00.
• On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The shares were sold at an average price of $82.53, for a total transaction of $2,886,899.40.

BridgeBio Pharma Stock Down 5.1%

BridgeBio Pharma stock opened at $65.71 on Thursday. BridgeBio Pharma, Inc. has a 52 week low of $48.78 and a 52 week high of $93.42. The company’s 50 day moving average price is $78.34 and its two-hundred day moving average price is $73.80. The stock has a market cap of $12.85 billion, a P/E ratio of -18.41 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last released its 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 firm had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. During the same period in the previous year, the company posted ($0.95) earnings per share. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.65 EPS for the current year.

Wall Street Analyst Weigh In

BBIO has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of BridgeBio Pharma in a research note on Thursday, September 10th. TD Cowen raised their price objective on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of BridgeBio Pharma from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, September 10th. Piper Sandler boosted their target price on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, UBS Group restated a “buy” rating on shares of BridgeBio Pharma in a research report on Wednesday, September 2nd. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.61.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its position in shares of BridgeBio Pharma by 139.4% during the 1st 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 lifted its holdings 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 during the last quarter. Assetmark Inc. grew its position in 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 in the last quarter. Seven Grand Managers LLC purchased a new position in BridgeBio Pharma in the fourth quarter worth $3,824,000. Finally, GW&K Investment Management LLC increased its stake in BridgeBio Pharma by 4.7% in the fourth quarter. GW&K Investment Management LLC now owns 626,122 shares of the company’s stock valued at $47,892,000 after acquiring an additional 27,885 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.