Neil Kumar Sells 30,011 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 30,011 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $74.64, for a total transaction of $2,240,021.04. Following the transaction, the chief executive officer directly owned 228,776 shares of the company’s stock, valued at approximately $17,075,840.64. This trade represents a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Neil Kumar also recently made the following trade(s):

• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00.
• On Thursday, November 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $65.84, for a total transaction of $1,722,111.04.
• On Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $63.15, for a total transaction of $2,526,000.00.
• On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00.

BridgeBio Pharma Stock Down 2.2%

NASDAQ:BBIO opened at $74.02 on Thursday. BridgeBio Pharma, Inc. has a 52 week low of $25.34 and a 52 week high of $76.51. The stock’s 50-day moving average price is $65.30 and its 200-day moving average price is $53.55. The stock has a market capitalization of $14.26 billion, a PE ratio of -17.71 and a beta of 1.26.

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

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in BridgeBio Pharma in the 2nd quarter valued at approximately $84,488,000. Driehaus Capital Management LLC acquired a new stake in shares of BridgeBio Pharma during the first quarter worth approximately $51,874,000. Invesco Ltd. increased its holdings in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Polar Capital Holdings Plc bought a new position in shares of BridgeBio Pharma in the third quarter valued at about $50,956,000. Finally, Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 1,698.5% in the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock worth $52,937,000 after acquiring an additional 962,525 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BBIO. Leerink Partners boosted their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group increased 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. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of BridgeBio Pharma in a report on Monday, November 3rd. Cowen reaffirmed a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Finally, Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Twenty-one research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.25.

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.