BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Sells $3,850,000.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrew Lo sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the completion of the sale, the director now owns 105,583 shares of the company’s stock, valued at approximately $4,064,945.50. The trade was a 48.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BridgeBio Pharma Price Performance

BBIO stock opened at $34.85 on Friday. The company’s 50 day simple moving average is $34.26 and its 200-day simple moving average is $31.14. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54. The firm has a market capitalization of $6.62 billion, a PE ratio of -12.23 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $57.14 million. BridgeBio Pharma’s quarterly revenue was down 44.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) EPS. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Farallon Capital Management LLC grew its stake in BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after acquiring an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock valued at $104,285,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of analyst reports. Redburn Atlantic started coverage on BridgeBio Pharma in a research note on Monday, March 31st. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Citigroup increased their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $57.09.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.