BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 34,980 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 34,980 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40. Following the transaction, the chief executive officer owned 243,327 shares of the company’s stock, valued at approximately $20,081,777.31. This represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $840,300.00.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00.

BridgeBio Pharma Stock Down 1.2%

BridgeBio Pharma stock traded down $1.01 during mid-day trading on Thursday, hitting $82.94. 1,885,678 shares of the company’s stock traded hands, compared to its average volume of 2,985,242. BridgeBio Pharma, Inc. has a one year low of $46.81 and a one year high of $93.42. The firm has a 50 day moving average price of $78.25 and a 200 day moving average price of $73.22. The company has a market cap of $16.21 billion, a PE ratio of -23.23 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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. The business’s quarterly revenue was up 120.4% on a year-over-year basis. During the same period last year, the firm posted ($0.95) earnings per share. On average, analysts expect that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently made changes to their positions in the business. Silvant Capital Management LLC acquired a new stake in BridgeBio Pharma during the second quarter valued at approximately $28,000. Allworth Financial LP acquired a new position in BridgeBio Pharma in the second quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the first quarter valued at $35,000. Finally, Farther Finance Advisors LLC lifted its position 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 valued at $39,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

BBIO has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Mizuho decreased their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Morgan Stanley lowered their price objective on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. TD Cowen boosted their target price on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Twenty 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.79.

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.