BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $1,812,592.32 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,103 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $69.44, for a total transaction of $1,812,592.32. Following the completion of the transaction, the chief executive officer owned 243,327 shares in the company, valued at approximately $16,896,626.88. This trade represents a 9.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total transaction of $2,749,200.00.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $68.45 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94. The firm has a market cap of $13.41 billion, a P/E ratio of -18.30 and a beta of 1.02. The firm’s 50-day simple moving average is $71.15 and its 200 day simple moving average is $72.09.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter in the prior year, the business posted ($0.88) EPS. The business’s revenue was up 66.8% compared to the same quarter last year. As a group, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in BBIO. Aster Capital Management DIFC Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. Huntington National Bank lifted its holdings in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after acquiring an additional 392 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

BBIO has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Mizuho reissued an “outperform” rating and set a $106.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given 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 $88.90.

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.