Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) Director Sells 40,599 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrew Lo sold 40,599 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $66.67, for a total value of $2,706,735.33. Following the completion of the transaction, the director owned 14,089 shares in the company, valued at $939,313.63. This trade represents a 74.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, November 18th, Andrew Lo sold 55,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00.

BridgeBio Pharma Stock Down 0.1%

Shares of NASDAQ BBIO traded down $0.05 during mid-day trading on Wednesday, hitting $65.54. 1,270,172 shares of the company were exchanged, compared to its average volume of 2,827,811. The stock has a 50 day simple moving average of $56.98 and a 200-day simple moving average of $48.09. BridgeBio Pharma, Inc. has a 1-year low of $22.05 and a 1-year 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.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) 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 in the prior year, the company earned ($0.86) earnings per share. The business’s revenue for the quarter was up 4318.0% compared to the same quarter last year. Analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Pharma

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BBIO shares. Cowen reissued a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. Cantor Fitzgerald boosted their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. UBS Group raised their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Twenty analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

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.