Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) Director Sells $671,500.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Randal Scott sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director directly owned 11,589 shares of the company’s stock, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Performance

NASDAQ:BBIO opened at $70.28 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $31.77 and a 52-week high of $84.94. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of -18.79 and a beta of 1.02. The business’s fifty day moving average is $71.35 and its 200 day moving average is $71.88.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) EPS. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on BBIO shares. Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Oppenheimer lowered their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Mizuho reissued an “outperform” rating and issued a $106.00 price target on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Royal Bank Of Canada assumed coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target on the stock. Twenty-three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $88.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBIO. Global Retirement Partners LLC raised its stake in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. Farther Finance Advisors LLC grew its stake in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $41,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 861.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after buying an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased 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 institutional investors.

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.