BridgeBio Pharma (NASDAQ:BBIO) CAO Sells $160,120.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CAO Maricel Apuli sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at $10,199,724.06. This trade represents a 1.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Down 0.1%

NASDAQ BBIO opened at $81.99 on Thursday. The company’s fifty day simple moving average is $75.03 and its 200-day simple moving average is $72.87. BridgeBio Pharma, Inc. has a 52 week low of $42.09 and a 52 week high of $93.42. The stock has a market cap of $16.03 billion, a P/E ratio of -21.92 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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 company had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. The company’s quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the first quarter worth about $35,000. Farther Finance Advisors LLC increased its holdings in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Global Retirement Partners LLC increased its holdings in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $41,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several recent analyst reports. Truist Financial raised their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group assumed coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target on the stock. Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. HC Wainwright raised their price objective on BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Morgan Stanley lifted their price objective on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.33.

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.