BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 26,103 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,103 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $69.44, for a total value of $1,812,592.32. Following the completion of the transaction, the chief executive officer directly owned 243,327 shares in the company, valued at approximately $16,896,626.88. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neil Kumar also recently made the following trade(s):

• On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.90, for a total value of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.73, for a total value of $2,749,200.00.

BridgeBio Pharma Trading Down 2.0%

NASDAQ BBIO opened at $67.73 on Wednesday. The stock’s 50 day moving average is $71.29 and its 200 day moving average is $72.02. BridgeBio Pharma, Inc. has a 12 month low of $31.77 and a 12 month high of $84.94. The stock has a market cap of $13.27 billion, a PE ratio of -18.11 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. BridgeBio Pharma’s revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.88) earnings per share. On average, analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BBIO shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Truist Financial upped their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Oppenheimer decreased their price objective on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Finally, Wells Fargo & Company upped their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $88.90.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently modified their holdings of the stock. L & S Advisors Inc bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $877,000. Principal Financial Group Inc. increased its position in shares of BridgeBio Pharma by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after purchasing an additional 236,885 shares during the last quarter. TD Asset Management Inc bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $4,620,000. Candriam S.C.A. bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $7,738,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after purchasing an additional 987,273 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.