Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Sells 68,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $34.21 on Friday. The company has a market cap of $6.47 billion, a P/E ratio of -14.19 and a beta of 1.05. The stock’s fifty day moving average price is $29.89 and its two-hundred day moving average price is $27.16. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $41.04.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in shares of BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after buying an additional 127,853 shares in the last quarter. Geode Capital Management LLC raised its position in shares of BridgeBio Pharma by 3.8% in the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after buying an additional 123,540 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BridgeBio Pharma by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock worth $32,711,000 after buying an additional 95,605 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 1.8% in the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BBIO shares. Scotiabank upped their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Leerink Partners lowered their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $49.00.

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.