Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) Director Sells $150,579.72 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 2,196 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the transaction, the director owned 8,383 shares in the company, valued at $574,822.31. This represents a 20.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 0.9%

BBIO traded up $0.63 during trading on Wednesday, hitting $69.26. The company’s stock had a trading volume of 4,190,473 shares, compared to its average volume of 2,788,713. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of -18.52 and a beta of 0.97. BridgeBio Pharma, Inc. has a twelve month low of $41.80 and a twelve month high of $84.94. The business’s fifty day simple moving average is $69.37 and its 200 day simple moving average is $71.90.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 66.8% on a year-over-year basis. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of BBIO. Commonwealth Equity Services LLC grew its stake in BridgeBio Pharma by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after acquiring an additional 244 shares in the last quarter. Farther Finance Advisors LLC boosted 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 purchasing an additional 245 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of BridgeBio Pharma by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after purchasing an additional 246 shares in the last quarter. CWM LLC grew its position in shares of BridgeBio Pharma by 4.3% in the fourth quarter. CWM LLC now owns 6,444 shares of the company’s stock valued at $493,000 after purchasing an additional 265 shares in the last quarter. Finally, Xponance LLC increased its holdings in shares of BridgeBio Pharma by 2.2% in the fourth quarter. Xponance LLC now owns 12,536 shares of the company’s stock valued at $959,000 after purchasing an additional 272 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBIO. Mizuho dropped their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Morgan Stanley raised their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. William Blair initiated coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the company 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 assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.05.

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.