BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 28,053 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 28,053 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the sale, the chief executive officer directly owned 234,451 shares of the company’s stock, valued at approximately $16,737,456.89. The trade was a 10.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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.
• On Monday, December 15th, Neil Kumar sold 30,011 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.64, for a total value of $2,240,021.04.
• On Thursday, December 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00.

BridgeBio Pharma Stock Down 0.3%

Shares of BBIO stock opened at $67.91 on Tuesday. The stock has a 50-day moving average price of $75.39 and a 200 day moving average price of $64.37. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of -16.25 and a beta of 1.13. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $84.94.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma in the first quarter valued at approximately $35,000. CWM LLC lifted its stake in BridgeBio Pharma by 29.8% in the 2nd quarter. CWM LLC now owns 6,830 shares of the company’s stock worth $295,000 after purchasing an additional 1,569 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in BridgeBio Pharma by 57.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 12,300 shares of the company’s stock valued at $531,000 after purchasing an additional 4,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of BridgeBio Pharma during the 2nd quarter valued at $229,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of BridgeBio Pharma by 7.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 57,126 shares of the company’s stock valued at $2,467,000 after purchasing an additional 3,760 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Barclays assumed coverage on BridgeBio Pharma in a research note on Wednesday, January 28th. They issued an “overweight” rating on the stock. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Oppenheimer lifted their price objective on shares of BridgeBio Pharma from $81.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Leerink Partners increased their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $82.05.

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.