Ronald Daniels Sells 61,031 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Ronald Daniels sold 61,031 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the completion of the transaction, the director directly owned 16,991 shares in the company, valued at $1,082,666.52. This trade represents a 78.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

BridgeBio Pharma Stock Down 1.5%

NASDAQ BBIO traded down $0.93 on Friday, reaching $61.80. The company had a trading volume of 2,325,959 shares, compared to its average volume of 2,862,729. The stock has a market capitalization of $11.91 billion, a PE ratio of -14.78 and a beta of 1.39. The firm’s 50 day moving average price is $54.92 and its 200 day moving average price is $46.32. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $69.48.

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 company had revenue of $108.11 million during the quarter, compared to the consensus estimate of $107.71 million. The company’s quarterly revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.86) EPS. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at about $25,000. First Horizon Corp purchased a new position in BridgeBio Pharma during the third quarter valued at approximately $36,000. AlphaQuest LLC lifted its holdings in BridgeBio Pharma by 254.3% during the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock worth $42,000 after buying an additional 585 shares during the period. GAMMA Investing LLC boosted its position in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma in the 1st quarter valued at $35,000. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BBIO has been the subject of several research reports. Raymond James Financial reiterated an “outperform” rating and set a $71.00 price objective (up previously from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Cantor Fitzgerald boosted their price objective on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. TD Cowen increased their target price on BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Truist Financial reiterated a “buy” rating and set a $80.00 target price (up from $66.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Finally, Piper Sandler upped their price target on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.95.

About BridgeBio Pharma

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.