BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,716,000.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the transaction, the chief executive officer owned 575,686 shares of the company’s stock, valued at approximately $39,089,079.40. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.73, for a total transaction of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67.
• 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 transaction of $2,877,600.00.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded down $2.71 on Monday, reaching $64.68. 3,648,376 shares of the company’s stock were exchanged, compared to its average volume of 2,784,258. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of -17.29 and a beta of 1.02. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94. The stock has a fifty day simple moving average of $71.27 and a 200-day simple moving average of $71.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.88) EPS. As a group, sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of recent analyst reports. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Mizuho reissued an “outperform” rating and issued a $106.00 price target on shares of BridgeBio Pharma in a report on Tuesday, April 28th. William Blair initiated coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. HC Wainwright increased their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Twenty-four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.19.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in BridgeBio Pharma by 46.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 561,945 shares of the company’s stock worth $41,675,000 after buying an additional 179,376 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of BridgeBio Pharma by 552.6% in 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. KBC Group NV increased its holdings in shares of BridgeBio Pharma by 13.1% in the 1st quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $352,000 after buying an additional 548 shares during the last quarter. SEB Asset Management AB bought a new position in shares of BridgeBio Pharma in the 1st quarter worth $17,511,000. Finally, Swiss National Bank increased its holdings in shares of BridgeBio Pharma by 1.2% in the 1st quarter. Swiss National Bank now owns 286,000 shares of the company’s stock worth $21,238,000 after buying an additional 3,400 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.