BridgeBio Pharma (NASDAQ:BBIO) Director Frank Mccormick Sells 74,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Frank Mccormick sold 74,000 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the transaction, the director owned 83,275 shares in the company, valued at approximately $4,426,899. This trade represents a 47.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Frank Mccormick also recently made the following trade(s):

• On Tuesday, June 24th, Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00.

BridgeBio Pharma Stock Down 1.0%

Shares of NASDAQ:BBIO opened at $52.96 on Thursday. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $54.60. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of -12.95 and a beta of 1.25. The business has a 50-day moving average price of $48.21 and a 200-day moving average price of $40.04.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to analysts’ expectations of $98.46 million. During the same period last year, the firm posted ($0.39) EPS. The firm’s revenue was up 4999.9% on a year-over-year basis. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. Scotiabank raised their price objective on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 6th. Truist Financial started coverage on BridgeBio Pharma in a research note on Monday, July 21st. They issued a “buy” rating and a $66.00 price objective for the company. Jefferies Financial Group started coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a “buy” rating and a $70.00 price target for the company. Finally, Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seventeen research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Buy” and an average target price of $63.35.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its position in BridgeBio Pharma by 218.3% during the second quarter. Osaic Holdings Inc. now owns 4,167 shares of the company’s stock valued at $179,000 after acquiring an additional 2,858 shares in the last quarter. Marex Group plc purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $273,000. Tower Research Capital LLC TRC increased its position in shares of BridgeBio Pharma by 71.6% in the second quarter. Tower Research Capital LLC TRC now owns 12,876 shares of the company’s stock valued at $556,000 after buying an additional 5,373 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $647,000. Finally, E Fund Management Co. Ltd. increased its position in shares of BridgeBio Pharma by 16.3% in the second quarter. E Fund Management Co. Ltd. now owns 21,965 shares of the company’s stock valued at $948,000 after buying an additional 3,075 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.