BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,958,800.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $73.97, for a total transaction of $2,958,800.00. Following the sale, the chief executive officer directly owned 735,686 shares of the company’s stock, valued at $54,418,693.42. The trade was a 5.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, December 15th, Neil Kumar sold 30,011 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.64, for a total transaction of $2,240,021.04.
• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were 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 value 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 value of $2,526,000.00.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $77.90 on Thursday. The stock has a market capitalization of $15.01 billion, a PE ratio of -18.64 and a beta of 1.17. BridgeBio Pharma, Inc. has a 12-month low of $28.33 and a 12-month high of $79.88. The business’s fifty day moving average price is $72.41 and its 200 day moving average price is $58.55.

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

Wall Street Analyst Weigh In

BBIO has been the subject of a number of analyst reports. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Piper Sandler raised their price target on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a report on Monday. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in BridgeBio Pharma in the 4th quarter valued at $789,000. GAMMA Investing LLC boosted its position in shares of BridgeBio Pharma by 39.0% during the 4th quarter. GAMMA Investing LLC now owns 1,418 shares of the company’s stock valued at $108,000 after acquiring an additional 398 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in BridgeBio Pharma in the third quarter valued at about $346,000. CIBC Private Wealth Group LLC raised its position in BridgeBio Pharma by 384.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,759 shares of the company’s stock worth $403,000 after purchasing an additional 6,156 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in BridgeBio Pharma in the third quarter worth about $866,000. 99.85% of the stock is owned by institutional investors.

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.