BridgeBio Pharma (NASDAQ:BBIO) Director Randal Scott Sells 10,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Randal Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the sale, the director directly owned 11,589 shares in the company, valued at approximately $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 1.0%

BridgeBio Pharma stock traded up $0.68 during trading hours on Tuesday, hitting $66.00. 2,420,149 shares of the stock traded hands, compared to its average volume of 2,780,052. The firm’s 50-day moving average price is $71.36 and its two-hundred day moving average price is $71.80. The company has a market cap of $12.93 billion, a PE ratio of -17.65 and a beta of 1.02. BridgeBio Pharma, Inc. has a one year low of $31.77 and a one year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. The business’s quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.88) earnings per share. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in BBIO. Aster Capital Management DIFC Ltd bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth approximately $35,000. Huntington National Bank boosted its position in shares of BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BBIO. HC Wainwright lifted their price objective on BridgeBio Pharma from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday. Mizuho reaffirmed an “outperform” rating and set a $106.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Finally, William Blair began coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They set an “outperform” rating on the stock. Twenty-three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $88.90.

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.