Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 28,053 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 28,053 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the transaction, the chief executive officer owned 234,451 shares in the company, valued at $16,737,456.89. This trade represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00.
• On Thursday, January 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $73.97, for a total value of $2,958,800.00.
• On Monday, December 15th, Neil Kumar sold 30,011 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.64, for a total value of $2,240,021.04.
• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00.

BridgeBio Pharma Price Performance

BBIO traded down $0.23 during trading hours on Monday, hitting $67.91. 3,673,046 shares of the stock were exchanged, compared to its average volume of 3,320,192. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of -16.25 and a beta of 1.13. The stock has a 50-day simple moving average of $75.52 and a 200-day simple moving average of $64.22. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $84.94.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma during the 2nd quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma during the third quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the third quarter worth about $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the first quarter valued at approximately $35,000. Finally, First Horizon Corp acquired a new position in BridgeBio Pharma in the third quarter worth approximately $36,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BBIO. 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. Sanford C. Bernstein began coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. The Goldman Sachs Group lifted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Piper Sandler boosted their target price on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.05.

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.