BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,240,021.04 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 30,011 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $74.64, for a total transaction of $2,240,021.04. Following the completion of the sale, the chief executive officer directly owned 228,776 shares of the company’s stock, valued at $17,075,840.64. This represents a 11.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00.
• On Thursday, November 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $65.84, for a total transaction of $1,722,111.04.
• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $63.15, for a total transaction of $2,526,000.00.
• On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00.

BridgeBio Pharma Trading Up 1.6%

BridgeBio Pharma stock traded up $1.18 during mid-day trading on Tuesday, hitting $75.69. The company’s stock had a trading volume of 2,177,576 shares, compared to its average volume of 2,772,288. The stock’s fifty day moving average is $64.49 and its two-hundred day moving average is $53.12. The firm has a market capitalization of $14.59 billion, a PE ratio of -18.11 and a beta of 1.26. BridgeBio Pharma, Inc. has a 1 year low of $25.34 and a 1 year high of $76.51.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. During the same quarter in the prior year, the company earned ($0.86) EPS. The firm’s revenue for the quarter was up 4318.0% on a year-over-year basis. On average, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Norges Bank purchased a new stake in shares of BridgeBio Pharma during the second quarter worth approximately $84,488,000. Driehaus Capital Management LLC purchased a new position in BridgeBio Pharma in the first quarter worth approximately $51,874,000. Invesco Ltd. grew its holdings in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after acquiring an additional 1,127,592 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $50,956,000. Finally, Wellington Management Group LLP raised its holdings in shares of BridgeBio Pharma by 1,698.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after purchasing an additional 962,525 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.