BridgeBio Pharma (NASDAQ:BBIO) Director Randal Scott Sells 10,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Randal Scott sold 10,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the sale, the director owned 11,589 shares in the company, valued at $778,201.35. This represents a 46.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 1.0%

NASDAQ BBIO opened at $66.00 on Wednesday. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of -17.65 and a beta of 1.02. The firm’s 50 day simple moving average is $71.37 and its 200 day simple moving average is $71.79. BridgeBio Pharma, Inc. has a 1 year low of $31.77 and a 1 year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.88) EPS. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of BBIO. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma during the third quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma during the third quarter worth $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma during the first quarter worth $35,000. Huntington National Bank raised its stake in BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after buying an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BBIO shares. Citigroup started coverage on shares of BridgeBio Pharma in a research report on Tuesday. They set a “neutral” rating and a $82.00 price target on the stock. HC Wainwright raised their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 11th. William Blair initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Leerink Partners restated an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Finally, Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $88.90.

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.