BridgeBio Pharma (NASDAQ:BBIO) CFO Sells $888,407.08 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 1.0%

Shares of BBIO traded up $0.68 during mid-day trading on Tuesday, reaching $66.00. The company’s stock had a trading volume of 2,420,149 shares, compared to its average volume of 2,780,052. BridgeBio Pharma, Inc. has a 1-year low of $31.77 and a 1-year high of $84.94. The stock has a market cap of $12.93 billion, a P/E ratio of -17.65 and a beta of 1.02. The business has a 50-day simple moving average of $71.36 and a two-hundred day simple moving average of $71.80.

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

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after acquiring an additional 2,178,556 shares during the period. California State Teachers Retirement System increased its stake in BridgeBio Pharma by 23.7% during the 1st quarter. California State Teachers Retirement System now owns 165,703 shares of the company’s stock worth $12,305,000 after acquiring an additional 31,797 shares during the period. Rock Springs Capital Management LP increased its stake in BridgeBio Pharma by 23.9% during the 1st quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company’s stock worth $9,524,000 after acquiring an additional 24,750 shares during the period. Eagle Health Investments LP increased its stake in BridgeBio Pharma by 3.0% during the 1st quarter. Eagle Health Investments LP now owns 267,031 shares of the company’s stock worth $19,830,000 after acquiring an additional 7,731 shares during the period. Finally, Quantinno Capital Management LP increased its stake in BridgeBio Pharma by 199.2% during the 1st quarter. Quantinno Capital Management LP now owns 32,240 shares of the company’s stock worth $2,394,000 after acquiring an additional 21,464 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on BBIO. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday. Oppenheimer dropped their price target on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Mizuho reissued an “outperform” rating and set a $106.00 price target on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Wells Fargo & Company lifted their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. lifted their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Twenty-three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $88.90.

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.