BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells $2,505,000.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the completion of the sale, the chief executive officer now owns 4,798,447 shares of the company’s stock, valued at approximately $160,268,129.80. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, May 19th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $33.33, for a total transaction of $871,779.48.
• On Tuesday, April 22nd, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $34.11, for a total transaction of $2,558,250.00.
• On Tuesday, March 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00.
• On Tuesday, February 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $33.57, for a total value of $2,517,750.00.
• On Wednesday, February 19th, Neil Kumar sold 31,543 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02.

BridgeBio Pharma Stock Up 0.1%

BridgeBio Pharma stock traded up $0.02 during trading on Tuesday, reaching $33.71. The stock had a trading volume of 2,229,680 shares, compared to its average volume of 2,436,341. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54. The stock has a market cap of $6.40 billion, a PE ratio of -11.83 and a beta of 1.15. The business has a 50 day moving average price of $34.45 and a 200 day moving average price of $31.70.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. BridgeBio Pharma’s revenue for the quarter was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its position in shares of BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after buying an additional 912,439 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of BridgeBio Pharma by 28.6% during the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock worth $994,000 after buying an additional 8,048 shares during the period. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock valued at $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of BridgeBio Pharma by 2.8% in the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company’s stock valued at $3,678,000 after purchasing an additional 3,706 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of BridgeBio Pharma by 9.6% during the fourth quarter. American Century Companies Inc. now owns 1,015,728 shares of the company’s stock worth $27,872,000 after purchasing an additional 88,882 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on BBIO. Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, March 24th. Piper Sandler increased their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. UBS Group lifted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Citigroup boosted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.09.

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.