BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $840,300.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total transaction of $840,300.00. Following the completion of the transaction, the chief executive officer owned 505,686 shares in the company, valued at $42,492,794.58. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00.

BridgeBio Pharma Trading Down 1.2%

NASDAQ BBIO traded down $1.01 during trading on Thursday, reaching $82.94. The company’s stock had a trading volume of 1,885,678 shares, compared to its average volume of 2,985,242. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of -23.23 and a beta of 0.96. BridgeBio Pharma, Inc. has a 12 month low of $46.81 and a 12 month high of $93.42. The firm has a 50 day moving average price of $78.25 and a 200 day moving average price of $73.22.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter in the previous year, the firm posted ($0.95) EPS. The firm’s quarterly revenue was up 120.4% on a year-over-year basis. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. First Bank & Trust lifted its stake in BridgeBio Pharma by 1.6% during the second quarter. First Bank & Trust now owns 8,797 shares of the company’s stock worth $655,000 after purchasing an additional 142 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of BridgeBio Pharma by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,646 shares of the company’s stock valued at $123,000 after purchasing an additional 199 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of BridgeBio Pharma by 4.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after purchasing an additional 244 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after purchasing an additional 246 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America increased their price target on BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group upped their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their price target on BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.79.

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.