BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells $2,765,250.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the completion of the transaction, the chief executive officer now directly owns 4,948,447 shares in the company, valued at $182,449,240.89. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was 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.
• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28.

BridgeBio Pharma Trading Down 3.5 %

Shares of BridgeBio Pharma stock opened at $35.11 on Friday. The company has a market capitalization of $6.68 billion, a P/E ratio of -12.32 and a beta of 1.07. The stock has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $29.28. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. On average, analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on BBIO. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. Citigroup raised their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $1,286,000. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Intech Investment Management LLC bought a new position in BridgeBio Pharma in the 3rd quarter valued at $1,136,000. Principal Financial Group Inc. increased its position in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BridgeBio Pharma by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock worth $32,711,000 after purchasing an additional 95,605 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.