Thomas Trimarchi Sells 13,651 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares in the company, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Up 3.4%

Shares of BBIO opened at $68.22 on Thursday. The business’s 50 day moving average price is $71.43 and its 200-day moving average price is $71.83. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94. The stock has a market cap of $13.36 billion, a P/E ratio of -18.24 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the prior year, the company posted ($0.88) earnings per share. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS 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 stock. Global Retirement Partners LLC grew its position in shares of BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after acquiring an additional 372 shares during the period. Farther Finance Advisors LLC grew its position in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. Cary Street Partners Investment Advisory LLC grew its position in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after acquiring an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $44,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBIO. Truist Financial boosted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a report on Thursday, February 12th. Mizuho restated an “outperform” rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Finally, Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Twenty-three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.90.

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.