BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) CEO Neil Kumar sold 34,980 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the transaction, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at $20,081,777.31. This trade represents a 12.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Kumar also recently made the following trade(s):
- On Wednesday, August 19th, Neil Kumar sold 10,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $84.03, for a total transaction of $840,300.00.
- On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00.
BridgeBio Pharma Stock Down 1.2%
Shares of NASDAQ BBIO opened at $82.94 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $46.81 and a 52-week high of $93.42. The firm has a fifty day moving average of $78.55 and a 200-day moving average of $73.26. The stock has a market capitalization of $16.21 billion, a PE ratio of -23.23 and a beta of 0.96.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC acquired a new position in BridgeBio Pharma in the 2nd quarter worth $1,050,762,000. Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma in the fourth quarter valued at about $210,348,000. Price T Rowe Associates Inc. MD grew its stake in BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC grew its stake in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after purchasing an additional 2,259,378 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in BridgeBio Pharma during the 2nd quarter worth approximately $145,663,000. 99.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on BBIO shares. Mizuho cut their price objective on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Citigroup increased their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley reduced their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $100.79.
Get Our Latest Stock Analysis on BridgeBio Pharma
BridgeBio Pharma Company Profile
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.
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