Neil Kumar Sells 40,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $68.73, for a total transaction of $2,749,200.00. Following the completion of the transaction, the chief executive officer owned 655,686 shares in the company, valued at $45,065,298.78. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00.
• On Thursday, January 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $73.97, for a total value of $2,958,800.00.

BridgeBio Pharma Price Performance

BBIO traded up $1.62 during midday trading on Monday, reaching $71.03. 1,626,854 shares of the company’s stock traded hands, compared to its average volume of 3,150,863. The firm has a fifty day moving average of $72.97 and a two-hundred day moving average of $66.18. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of -18.79 and a beta of 1.13. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million during the quarter, compared to analysts’ expectations of $150.71 million. During the same quarter in the prior year, the company posted ($1.40) EPS. The business’s revenue was up 2521.2% on a year-over-year basis. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strs Ohio boosted its position in shares of BridgeBio Pharma by 1.1% during the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of BridgeBio Pharma by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after acquiring an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of BridgeBio Pharma by 22.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after acquiring an additional 228 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of BridgeBio Pharma by 4.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after purchasing an additional 244 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in BridgeBio Pharma by 91.4% during the fourth 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 period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BBIO. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Morgan Stanley upped their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. HC Wainwright raised their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, William Blair assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They set an “outperform” rating for the company. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.95.

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.