Jennifer Cook Sells 2,196 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 2,196 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $68.57, for a total transaction of $150,579.72. Following the completion of the transaction, the director directly owned 8,383 shares in the company, valued at approximately $574,822.31. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 0.5%

Shares of BridgeBio Pharma stock opened at $69.69 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $41.80 and a twelve month high of $84.94. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of -18.63 and a beta of 0.97. The company has a fifty day moving average price of $69.03 and a 200 day moving average price of $71.84.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the previous year, the business earned ($0.88) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on BBIO. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of BridgeBio Pharma in a research report on Thursday, May 28th. Morgan Stanley increased their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective on the stock. Truist Financial boosted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Twenty-one analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklands Fund Management Ltd acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after buying an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after acquiring an additional 2,259,378 shares in the last quarter. Norges Bank bought a new position in BridgeBio Pharma during the 4th quarter valued at $116,802,000. Finally, Wellington Management Group LLP grew its holdings in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after acquiring an additional 1,329,537 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.