Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 26,103 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,103 shares of BridgeBio Pharma stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $69.44, for a total value of $1,812,592.32. Following the transaction, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at $16,896,626.88. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00.

BridgeBio Pharma Price Performance

BBIO stock traded down $1.39 during mid-day trading on Tuesday, reaching $67.73. 2,421,455 shares of the company traded hands, compared to its average volume of 2,760,190. The company has a market capitalization of $13.27 billion, a P/E ratio of -18.11 and a beta of 1.02. BridgeBio Pharma, Inc. has a 52-week low of $31.77 and a 52-week high of $84.94. The company has a fifty day moving average price of $71.32 and a 200-day moving average price of $71.98.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.88) earnings per share. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in BridgeBio Pharma during the third quarter worth about $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma in the 1st quarter valued at $35,000. Huntington National Bank boosted its stake in shares of BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. William Blair assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, Wells Fargo & Company raised their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Twenty-two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.90.

About BridgeBio Pharma

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.