Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 26,156 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,156 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $65.84, for a total value of $1,722,111.04. Following the completion of the transaction, the chief executive officer directly owned 228,776 shares in the company, valued at $15,062,611.84. The trade was a 10.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $63.15, for a total value of $2,526,000.00.
• On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $54.78, for a total value of $2,191,200.00.
• On Thursday, September 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $51.34, for a total transaction of $2,053,600.00.

BridgeBio Pharma Stock Up 4.2%

BridgeBio Pharma stock traded up $2.88 during midday trading on Monday, hitting $70.99. 4,513,230 shares of the stock were exchanged, compared to its average volume of 2,837,678. The stock has a market capitalization of $13.68 billion, a PE ratio of -16.98 and a beta of 1.39. The company has a fifty day simple moving average of $57.81 and a two-hundred day simple moving average of $48.70. BridgeBio Pharma, Inc. has a 52 week low of $25.34 and a 52 week high of $71.44.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. The business’s revenue for the quarter was up 4318.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.86) EPS. As a group, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the topic of several research analyst reports. Piper Sandler lifted their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group raised their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Evercore ISI reiterated an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Finally, Leerink Partners set a $68.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research note on Monday, October 27th. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma in the first quarter valued at approximately $35,000. Finally, First Horizon Corp acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at approximately $36,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.