BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 10,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total transaction of $840,300.00. Following the completion of the sale, the chief executive officer owned 505,686 shares in the company, valued at $42,492,794.58. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40.
• 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 transaction of $2,698,400.00.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $82.94 on Friday. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of -23.23 and a beta of 0.96. The business has a 50-day moving average of $78.55 and a 200-day moving average of $73.26. 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 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 company had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. During the same quarter in the prior year, the company posted ($0.95) earnings per share. The business’s revenue was up 120.4% compared to the same quarter last year. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright boosted their price target on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Citigroup increased their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Bank of America raised their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company upped their price target on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Twenty equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.79.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of BBIO. Hsbc Holdings PLC boosted its position in BridgeBio Pharma by 139.4% during the first quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock worth $2,431,000 after purchasing an additional 19,043 shares during the period. Geode Capital Management LLC increased 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 valued at $344,689,000 after purchasing an additional 502,582 shares during the last quarter. Nan Fung Trinity HK Ltd. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at about $8,422,000. Assetmark Inc. raised its position in shares of BridgeBio Pharma by 423.7% in the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock valued at $1,544,000 after purchasing an additional 16,820 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $4,567,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.