Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CEO Sells 40,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00. Following the completion of the sale, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at approximately $57,711,038.40. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, November 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The stock was sold at an average price of $65.84, for a total value of $1,722,111.04.
• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were 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 stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00.

BridgeBio Pharma Trading Up 0.8%

Shares of NASDAQ:BBIO traded up $0.60 on Monday, hitting $74.24. The company had a trading volume of 1,637,220 shares, compared to its average volume of 2,795,708. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of -17.76 and a beta of 1.25. BridgeBio Pharma, Inc. has a 1-year low of $25.34 and a 1-year high of $75.10. The stock has a 50 day moving average price of $62.01 and a 200 day moving average price of $51.40.

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

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in BridgeBio Pharma in the third quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the 1st quarter valued at $35,000. Finally, First Horizon Corp bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $36,000. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BBIO shares. Raymond James Financial reissued an “outperform” rating and set a $71.00 target price (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. TD Cowen upped their price target on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Finally, UBS Group boosted their price objective on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Twenty equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

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.