Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Sells 100,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Frank Mccormick sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the completion of the transaction, the director now directly owns 879,979 shares of the company’s stock, valued at approximately $38,921,471.17. This trade represents a 10.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $44.86 on Friday. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $45.48. The business has a fifty day moving average price of $37.11 and a 200-day moving average price of $34.11. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of -12.71 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same period in the prior year, the firm posted ($0.20) EPS. The business’s revenue for the quarter was down 44.8% on a year-over-year basis. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBIO. Rhumbline Advisers raised its stake in BridgeBio Pharma by 0.5% during the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company’s stock worth $7,610,000 after acquiring an additional 1,008 shares during the period. Strs Ohio bought a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $408,000. Wealth Management Associates Inc. lifted its stake in shares of BridgeBio Pharma by 19.0% during the 1st quarter. Wealth Management Associates Inc. now owns 8,980 shares of the company’s stock valued at $310,000 after buying an additional 1,435 shares in the last quarter. Intech Investment Management LLC boosted its holdings in BridgeBio Pharma by 12.0% in the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock worth $2,542,000 after buying an additional 7,877 shares during the period. Finally, Zimmer Partners LP boosted its holdings in BridgeBio Pharma by 67.1% in the 1st quarter. Zimmer Partners LP now owns 301,400 shares of the company’s stock worth $10,419,000 after buying an additional 121,000 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, June 7th. HC Wainwright raised their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Wolfe Research initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They set an “outperform” rating and a $49.00 target price for the company. Scotiabank increased their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.42.

About BridgeBio Pharma

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.