BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,526,000.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $63.15, for a total transaction of $2,526,000.00. Following the transaction, the chief executive officer owned 815,686 shares in the company, valued at approximately $51,510,570.90. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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.
• On Wednesday, August 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $48.82, for a total transaction of $1,276,935.92.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $1.01 during mid-day trading on Monday, hitting $62.81. The stock had a trading volume of 1,277,112 shares, compared to its average volume of 2,855,355. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $69.48. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -15.03 and a beta of 1.39. The company’s 50 day simple moving average is $55.12 and its 200 day simple moving average is $46.68.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $108.11 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same quarter last year, the company earned ($0.86) EPS. The firm’s revenue for the quarter was up 4318.0% on a year-over-year basis. As a group, equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $25,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the first quarter valued at about $35,000. First Horizon Corp acquired a new position in BridgeBio Pharma in the third quarter valued at about $36,000. AlphaQuest LLC grew its stake in BridgeBio Pharma by 254.3% during the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock worth $42,000 after buying an additional 585 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBIO shares. Cowen reaffirmed a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. Scotiabank raised their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 6th. UBS Group lifted their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of BridgeBio Pharma in a report on Monday, July 14th. They issued a “buy” rating and a $70.00 price target on the stock. Twenty research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $73.95.

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.