Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 75,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total value of $2,558,250.00. Following the completion of the sale, the chief executive officer now directly owns 4,873,447 shares in the company, valued at approximately $166,233,277.17. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, March 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.87, for a total value of $2,765,250.00.
• On Tuesday, February 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The shares were 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 shares were sold at an average price of $36.14, for a total transaction of $1,139,964.02.
• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $36.31 on Friday. The firm has a market capitalization of $6.89 billion, a PE ratio of -12.74 and a beta of 1.08. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47. The business has a 50-day moving average of $33.92 and a two-hundred day moving average of $30.47.

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

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in BBIO. Steward Partners Investment Advisory LLC raised its position in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the period. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after buying an additional 382 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at about $41,000. Sterling Capital Management LLC lifted its position in BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma in the 4th quarter worth approximately $109,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BBIO. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Scotiabank increased their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.