Neil Kumar Sells 28,053 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 28,053 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.39, for a total value of $2,002,703.67. Following the sale, the chief executive officer directly owned 234,451 shares of the company’s stock, valued at approximately $16,737,456.89. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00.
• On Thursday, January 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $73.97, for a total transaction of $2,958,800.00.
• On Monday, December 15th, Neil Kumar sold 30,011 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.64, for a total transaction of $2,240,021.04.
• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00.

BridgeBio Pharma Trading Down 0.3%

NASDAQ:BBIO traded down $0.23 during trading hours on Monday, hitting $67.91. 3,673,046 shares of the stock traded hands, compared to its average volume of 3,320,192. The firm has a 50 day moving average price of $75.52 and a 200 day moving average price of $64.22. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of -16.25 and a beta of 1.13. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of BBIO. Corient Private Wealth LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth approximately $643,000. WINTON GROUP Ltd bought a new position in shares of BridgeBio Pharma in the second quarter valued at approximately $3,856,000. Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 23.0% in the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after purchasing an additional 236,885 shares during the period. Federated Hermes Inc. lifted its stake in shares of BridgeBio Pharma by 53.0% in the third quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock worth $22,059,000 after buying an additional 147,108 shares during the last quarter. Finally, L & S Advisors Inc bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $877,000. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBIO. Wells Fargo & Company lifted their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. The Goldman Sachs Group boosted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Leerink Partners lifted their target price on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Finally, Oppenheimer upped their price target on shares of BridgeBio Pharma from $81.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Twenty-two 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.05.

About BridgeBio Pharma

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.