BridgeBio Pharma (NASDAQ:BBIO) Director Jennifer Cook Sells 148,589 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 148,589 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at $742,230.82. This represents a 94.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Down 3.3%

Shares of BridgeBio Pharma stock opened at $83.08 on Tuesday. The stock has a market capitalization of $16.27 billion, a P/E ratio of -22.21 and a beta of 0.95. The company has a 50-day simple moving average of $70.00 and a 200 day simple moving average of $72.14. BridgeBio Pharma, Inc. has a 12-month low of $42.09 and a 12-month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.88) earnings per share. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. 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 for the company. Canaccord Genuity Group assumed coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Truist Financial boosted their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Twenty 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.63.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently modified their holdings of the stock. First Bank & Trust grew its stake in shares of BridgeBio Pharma by 1.6% during the second quarter. First Bank & Trust now owns 8,797 shares of the company’s stock valued at $655,000 after purchasing an additional 142 shares during the last quarter. GAMMA Investing LLC raised its position in BridgeBio Pharma by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,646 shares of the company’s stock worth $123,000 after purchasing an additional 199 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in BridgeBio Pharma by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock worth $396,000 after buying an additional 244 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in BridgeBio Pharma by 91.4% during 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. Finally, State of New Jersey Common Pension Fund D boosted its position in BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after buying an additional 246 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.