Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 326,932 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, November 19th, Neil Kumar sold 27,389 shares of BridgeBio Pharma stock. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49.

BridgeBio Pharma Trading Down 1.3 %

BBIO stock traded down $0.49 during midday trading on Thursday, reaching $35.97. The stock had a trading volume of 2,154,592 shares, compared to its average volume of 2,899,899. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $41.04. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -14.93 and a beta of 1.05. The company’s fifty day simple moving average is $29.64 and its 200 day simple moving average is $27.10.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Leerink Partners dropped their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Scotiabank upped their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Finally, Evercore ISI upped their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the period. Emerald Advisers LLC grew its holdings in shares of BridgeBio Pharma by 65.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock worth $28,095,000 after purchasing an additional 437,164 shares during the period. First Turn Management LLC acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth about $10,178,000. Emerald Mutual Fund Advisers Trust raised its holdings in BridgeBio Pharma by 50.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock valued at $19,129,000 after buying an additional 253,101 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in BridgeBio Pharma in the third quarter valued at about $3,497,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.