Frank Mccormick Sells 1,641 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Frank Mccormick sold 1,641 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $65.00, for a total transaction of $106,665.00. Following the completion of the transaction, the director owned 878,338 shares in the company, valued at $57,091,970. This trade represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, September 5th, Frank Mccormick sold 74,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $53.16, for a total transaction of $3,933,840.00.

BridgeBio Pharma Stock Down 4.9%

Shares of NASDAQ BBIO opened at $63.37 on Friday. The company has a market capitalization of $12.11 billion, a PE ratio of -15.16 and a beta of 1.36. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $69.48. The firm has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $45.34.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $108.11 million for the quarter, compared to analyst estimates of $107.71 million. During the same quarter in the prior year, the business earned ($0.86) earnings per share. The company’s revenue was up 4318.0% on a year-over-year basis. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter valued at about $25,000. First Horizon Corp purchased a new stake in shares of BridgeBio Pharma in the third quarter worth approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BBIO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 target price on shares of BridgeBio Pharma in a research note on Thursday. Wall Street Zen raised shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Oppenheimer boosted their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday. Finally, Cowen reaffirmed a “positive” rating on shares of BridgeBio Pharma in a research note on Thursday. Twenty equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $73.05.

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.