Randal W. Scott Sells 1,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Free Report) Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BridgeBio Pharma Trading Down 3.1 %

BBIO stock opened at $27.12 on Friday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -8.42 and a beta of 1.08. The firm’s 50-day moving average price is $27.67 and its two-hundred day moving average price is $32.03. BridgeBio Pharma, Inc. has a 12-month low of $14.78 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The business had revenue of $211.12 million for the quarter, compared to analysts’ expectations of $140.06 million. Equities analysts predict that BridgeBio Pharma, Inc. will post -3.2 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. UBS Group AG boosted its holdings in BridgeBio Pharma by 545.9% in the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after acquiring an additional 832,940 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $403,000. The Manufacturers Life Insurance Company boosted its stake in shares of BridgeBio Pharma by 170.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock valued at $17,552,000 after purchasing an additional 419,813 shares in the last quarter. Primecap Management Co. CA increased its position in shares of BridgeBio Pharma by 34.9% during the third quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock valued at $24,754,000 after buying an additional 242,608 shares during the period. Finally, Boone Capital Management LLC bought a new position in BridgeBio Pharma in the third quarter worth about $8,264,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBIO. Raymond James started coverage on BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective on the stock. Citigroup lifted their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI started coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective for the company. Mizuho reduced their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $47.62.

Check Out Our Latest Stock Analysis on BBIO

About BridgeBio Pharma

(Get Free Report)

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.

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