BridgeBio Pharma (NASDAQ:BBIO) Director Sells $6,011,788.80 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 90,240 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $66.62, for a total value of $6,011,788.80. Following the completion of the transaction, the director owned 6,589 shares of the company’s stock, valued at $438,959.18. This trade represents a 93.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 $66.27 on Friday. The stock’s 50-day moving average price is $69.62 and its two-hundred day moving average price is $71.96. The company has a market cap of $12.98 billion, a PE ratio of -17.72 and a beta of 0.97. BridgeBio Pharma, Inc. has a 1 year low of $40.19 and a 1 year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. The company’s quarterly revenue was up 66.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.88) earnings per share. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBIO. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the 1st quarter worth approximately $35,000. First Trust Advisors LP grew its holdings in shares of BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after acquiring an additional 175,918 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of BridgeBio Pharma by 1.8% in the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after acquiring an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of BridgeBio Pharma in the second quarter worth $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BridgeBio Pharma by 2.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after acquiring an additional 2,206 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Citigroup initiated coverage on BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 target price for the company. Finally, Royal Bank Of Canada started coverage on BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target on the stock. Twenty-two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $91.05.

About BridgeBio Pharma

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.