BridgeBio Pharma (NASDAQ:BBIO) Director Andrea Ellis Sells 17,167 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This represents a 43.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Down 3.3%

Shares of NASDAQ:BBIO opened at $83.08 on Tuesday. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of -22.21 and a beta of 0.95. BridgeBio Pharma, Inc. has a 12 month low of $42.09 and a 12 month high of $93.42. The company’s fifty day simple moving average is $70.00 and its 200 day simple moving average is $72.14.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The company’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.88) earnings per share. Research analysts expect that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after purchasing an additional 2,178,556 shares during the last quarter. Farallon Capital Management LLC increased its position in BridgeBio Pharma by 9.8% during the fourth quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after buying an additional 806,463 shares during the last quarter. Invesco Ltd. increased its position in BridgeBio Pharma by 23.0% during the fourth quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after buying an additional 902,648 shares during the last quarter. Geode Capital Management LLC raised its stake in BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after buying an additional 502,582 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after buying an additional 2,261,181 shares during the period. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Morgan Stanley lifted their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Canaccord Genuity Group started coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price on the stock. Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target for the company. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.63.

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.