Jennifer Cook Sells 37,167 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 37,167 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $2,601,690.00. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at $586,810. This trade represents a 81.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Up 0.9%

Shares of BBIO stock traded up $0.63 during mid-day trading on Wednesday, hitting $69.26. 4,190,473 shares of the company’s stock were exchanged, compared to its average volume of 2,788,713. BridgeBio Pharma, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $84.94. The stock has a 50-day simple moving average of $69.37 and a two-hundred day simple moving average of $71.90. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of -18.52 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the prior year, the firm earned ($0.88) EPS. The company’s revenue was up 66.8% on a year-over-year basis. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BBIO. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price on the stock. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Mizuho cut their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Twenty-two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.05.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its stake in shares of BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in BridgeBio Pharma during the 4th quarter valued at $41,000. Cary Street Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after acquiring an additional 508 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in BridgeBio Pharma during the 4th quarter worth $44,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.