BridgeBio Pharma (NASDAQ:BBIO) Director Sells $3,612,950.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the sale, the director owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Andrew Lo also recently made the following trade(s):

• On Monday, November 17th, Andrew Lo sold 40,599 shares of BridgeBio Pharma stock. The shares were sold at an average price of $66.67, for a total transaction of $2,706,735.33.

BridgeBio Pharma Price Performance

Shares of BBIO traded down $0.05 during mid-day trading on Wednesday, reaching $65.54. The stock had a trading volume of 1,270,172 shares, compared to its average volume of 2,827,811. BridgeBio Pharma, Inc. has a 52-week low of $22.05 and a 52-week high of $69.48. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of -15.68 and a beta of 1.39. The business’s fifty day moving average is $56.98 and its 200 day moving average is $48.09.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. During the same quarter last year, the firm earned ($0.86) EPS. BridgeBio Pharma’s revenue was up 4318.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BBIO shares. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. Oppenheimer upped their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald increased their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group boosted their price objective on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Twenty research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma during the second quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $35,000. Finally, First Horizon Corp purchased a new position in BridgeBio Pharma in the 3rd quarter valued at approximately $36,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.