Neil Kumar Sells 40,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the transaction, the chief executive officer owned 575,686 shares in the company, valued at $39,089,079.40. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.39, for a total value of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.94, for a total value of $2,877,600.00.

BridgeBio Pharma Trading Up 2.0%

Shares of NASDAQ:BBIO opened at $65.95 on Wednesday. The stock’s 50-day moving average price is $71.22 and its 200-day moving average price is $71.56. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94. The stock has a market capitalization of $12.92 billion, a P/E ratio of -17.63 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 analysts’ expectations of $178.07 million. During the same quarter in the prior year, the business earned ($0.88) earnings per share. The company’s revenue was up 66.8% on a year-over-year basis. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -2.25 EPS for the current year.

Key Stories Impacting BridgeBio Pharma

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: BridgeBio submitted an NDA to the FDA for encaleret for people living with ADH1, a meaningful regulatory step that could expand the company’s future product portfolio if approved. Article: BridgeBio Submits NDA to FDA for Encaleret for Individuals Living with ADH1
• Positive Sentiment: New data for acoramidis showed continued disease-modifying effects in ATTR-CM, including reduced sTTR variability and fewer outpatient worsening heart-failure events, reinforcing confidence in the drug’s commercial potential. Article: Acoramidis Continues to Demonstrate Disease-Modifying Effects in ATTR-CM, Reducing sTTR Variability and Outpatient Worsening Heart Failure
• Positive Sentiment: HC Wainwright raised its earnings estimates for BridgeBio and reiterated a Buy rating with a $110 price target, signaling improving longer-term outlook expectations. Article: Analysts Offer Insights on Healthcare Companies: Vericel and BridgeBio Pharma
• Positive Sentiment: The company announced a $500 million share repurchase program, which can support the stock by signaling management confidence and providing potential buyback demand. Article: BridgeBio Pharma Announces $500 Million Stock Repurchase Program
• Neutral Sentiment: Analysts continue to update BridgeBio’s estimates after first-quarter results, reflecting ongoing model adjustments rather than a clearly new catalyst. Article: Analysts Are Updating Their BridgeBio Pharma, Inc. (NASDAQ:BBIO) Estimates After Its First-Quarter Results
• Negative Sentiment: CEO Neil Kumar sold 40,000 shares in a pre-arranged Rule 10b5-1 transaction, which can weigh on sentiment even though it was scheduled in advance. Article: SEC Form 4 insider sale by Neil Kumar

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BBIO shares. JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Truist Financial raised their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Mizuho reissued an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company raised their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Twenty-four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $88.19.

Institutional Trading of BridgeBio Pharma

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in BridgeBio Pharma by 46.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 561,945 shares of the company’s stock valued at $41,675,000 after acquiring an additional 179,376 shares in the last quarter. Parallel Advisors LLC boosted its position in BridgeBio Pharma by 552.6% during the 1st quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock valued at $66,000 after acquiring an additional 757 shares in the last quarter. KBC Group NV boosted its position in BridgeBio Pharma by 13.1% during the 1st quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $352,000 after acquiring an additional 548 shares in the last quarter. SEB Asset Management AB bought a new stake in BridgeBio Pharma during the 1st quarter valued at approximately $17,511,000. Finally, Swiss National Bank boosted its position in BridgeBio Pharma by 1.2% during the 1st quarter. Swiss National Bank now owns 286,000 shares of the company’s stock valued at $21,238,000 after acquiring an additional 3,400 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

About BridgeBio Pharma

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.