Neil Kumar Sells 40,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00. Following the sale, the chief executive officer owned 655,686 shares of the company’s stock, valued at approximately $45,065,298.78. This trade represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00.
• On Thursday, January 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $73.97, for a total transaction of $2,958,800.00.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $70.94 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $28.33 and a 1 year high of $84.94. The firm has a market cap of $13.75 billion, a PE ratio of -18.77 and a beta of 1.13. The company has a 50 day simple moving average of $72.86 and a two-hundred day simple moving average of $66.45.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same quarter last year, the firm earned ($1.40) earnings per share. BridgeBio Pharma’s revenue was up 2521.2% on a year-over-year basis. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BridgeBio Pharma during the 2nd quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of BridgeBio Pharma in the third quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new position in shares of BridgeBio Pharma in the third quarter worth $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the first quarter valued at $35,000. Finally, First Horizon Corp bought a new position in shares of BridgeBio Pharma during the third quarter valued at $36,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BBIO shares. HC Wainwright raised their price target on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Truist Financial raised their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Morgan Stanley boosted their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Oppenheimer cut their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Twenty-three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.95.

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.