BridgeBio Pharma (NASDAQ:BBIO) Director Sells $2,601,690.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 37,167 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $2,601,690.00. Following the completion of the sale, the director directly owned 8,383 shares in the company, valued at approximately $586,810. The trade was a 81.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $70.24 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $41.80 and a 1 year high of $84.94. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of -18.78 and a beta of 0.97. The business’s 50 day moving average price is $68.88 and its 200-day moving average price is $71.82.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.88) earnings per share. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on BBIO shares. HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. William Blair assumed coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Finally, Citigroup assumed coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 target price for the company. Twenty-one analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $92.90.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Parallel Advisors LLC increased its holdings in shares of BridgeBio Pharma by 552.6% during the 1st quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock worth $66,000 after buying an additional 757 shares during the last quarter. Avidity Partners Management LP purchased a new position in BridgeBio Pharma in the first quarter worth approximately $711,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 19.8% in the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after acquiring an additional 2,178,556 shares during the period. California State Teachers Retirement System increased its stake in BridgeBio Pharma by 23.7% during the first quarter. California State Teachers Retirement System now owns 165,703 shares of the company’s stock worth $12,305,000 after acquiring an additional 31,797 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its stake in BridgeBio Pharma by 23.9% during the first quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company’s stock worth $9,524,000 after acquiring an additional 24,750 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.