BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,698,400.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the transaction, the chief executive officer directly owned 535,686 shares in the company, valued at $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The sale was disclosed in a 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 21st, Neil Kumar sold 26,103 shares of BridgeBio Pharma stock. The shares were sold at an average price of $69.44, for a total transaction of $1,812,592.32.
• 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 Trading Down 0.4%

BBIO stock opened at $67.40 on Thursday. The company has a market cap of $13.20 billion, a price-to-earnings ratio of -18.02 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12 month low of $38.57 and a 12 month high of $84.94. The firm has a 50-day moving average of $70.51 and a two-hundred day moving average of $72.15.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. The company’s revenue was up 66.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.88) EPS. As a group, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at approximately $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the 1st quarter valued at approximately $35,000. Huntington National Bank increased its holdings in BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Oppenheimer cut their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target for the company. Wells Fargo & Company raised their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of BridgeBio Pharma in a report on Thursday, May 28th. Twenty-three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.59.

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.