Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 26,156 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,156 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $65.84, for a total transaction of $1,722,111.04. Following the completion of the sale, the chief executive officer directly owned 228,776 shares in the company, valued at approximately $15,062,611.84. The trade was a 10.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $63.15, for a total value of $2,526,000.00.
• On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $54.78, for a total value of $2,191,200.00.
• On Thursday, September 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $51.34, for a total value of $2,053,600.00.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded up $2.88 during midday trading on Monday, hitting $70.99. 4,513,230 shares of the company were exchanged, compared to its average volume of 2,837,678. The firm has a 50 day simple moving average of $57.81 and a 200-day simple moving average of $48.70. The firm has a market cap of $13.68 billion, a P/E ratio of -16.98 and a beta of 1.39. BridgeBio Pharma, Inc. has a 52 week low of $25.34 and a 52 week high of $71.44.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the prior year, the company earned ($0.86) EPS. BridgeBio Pharma’s quarterly revenue was up 4318.0% on a year-over-year basis. Equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Oppenheimer lifted their price target on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Wall Street Zen raised BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Truist Financial restated a “buy” rating and set a $80.00 price target (up from $66.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald lifted their price objective on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in shares of BridgeBio Pharma by 1.1% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its holdings in BridgeBio Pharma by 28.6% in the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after buying an additional 227 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 22.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after acquiring an additional 228 shares during the last quarter. Gabelli Funds LLC grew its holdings in BridgeBio Pharma by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock worth $3,185,000 after acquiring an additional 250 shares during the period. Finally, First Bank & Trust grew its holdings in BridgeBio Pharma by 3.9% during the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company’s stock worth $381,000 after acquiring an additional 329 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.