BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,886,899.40 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 34,980 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the transaction, the chief executive officer owned 243,327 shares in the company, valued at $20,081,777.31. This represents a 12.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $67.46, for a total value of $2,698,400.00.

BridgeBio Pharma Stock Performance

BBIO stock opened at $81.50 on Friday. The company has a market cap of $15.93 billion, a price-to-earnings ratio of -22.83 and a beta of 0.96. The business’s 50-day moving average is $78.85 and its two-hundred day moving average is $73.32. BridgeBio Pharma, Inc. has a fifty-two week low of $46.81 and a fifty-two week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. During the same period in the prior year, the company posted ($0.95) EPS. The firm’s revenue for the quarter was up 120.4% on a year-over-year basis. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the business. Jupiter Topco LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth about $1,050,762,000. Janus Henderson Group PLC boosted its stake in BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after purchasing an additional 2,178,556 shares during the period. Farallon Capital Management LLC grew its holdings in BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after buying an additional 806,463 shares in the last quarter. Invesco Ltd. raised its position in shares of BridgeBio Pharma by 23.0% during the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock valued at $369,547,000 after buying an additional 902,648 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after buying an additional 502,582 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBIO. Morgan Stanley dropped 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 note on Tuesday, August 11th. Bank of America lifted their target price on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Piper Sandler upped their price target on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Citigroup raised their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Canaccord Genuity Group boosted their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

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.