Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 75,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the transaction, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $33.57, for a total transaction of $2,517,750.00.
• On Wednesday, February 19th, Neil Kumar sold 31,543 shares of BridgeBio Pharma stock. The shares were sold at an average price of $36.14, for a total value of $1,139,964.02.
• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $35.11 on Friday. The firm’s 50 day moving average is $34.26 and its 200-day moving average is $29.29. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47. The stock has a market capitalization of $6.68 billion, a P/E ratio of -12.32 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ironwood Investment Management LLC boosted its position in shares of BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after purchasing an additional 338 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock worth $404,000 after buying an additional 466 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the period. Mackenzie Financial Corp lifted its position in shares of BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Xponance Inc. boosted its stake in BridgeBio Pharma by 9.1% in the 4th quarter. Xponance Inc. now owns 10,089 shares of the company’s stock worth $277,000 after purchasing an additional 844 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on BBIO. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Citigroup raised their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. Evercore ISI raised their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Scotiabank upped their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

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.