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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $74.62, for a total transaction of $2,984,800.00. Following the completion of the transaction, the chief executive officer directly owned 615,686 shares in the company, valued at $45,942,489.32. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.39, for a total value 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 value of $2,877,600.00.

BridgeBio Pharma Stock Up 4.4%

Shares of NASDAQ:BBIO opened at $77.87 on Tuesday. The business has a fifty day moving average of $70.91 and a two-hundred day moving average of $69.17. The stock has a market cap of $15.10 billion, a P/E ratio of -20.60 and a beta of 1.09. BridgeBio Pharma, Inc. has a 52-week low of $31.77 and a 52-week high of $84.94.

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

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of BridgeBio Pharma in the third quarter worth $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma in the first quarter valued at $35,000. First Horizon Corp purchased a new position in BridgeBio Pharma in the third quarter valued at $36,000. Finally, Huntington National Bank grew its stake in BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on BBIO. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Raymond James Financial set a $89.00 price target on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Truist Financial upped 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. Mizuho increased their price objective on BridgeBio Pharma from $91.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Finally, Leerink Partners reissued an “outperform” rating and set a $98.00 target price on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Twenty-four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.