Neil Kumar Sells 40,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at $36,137,377.56. This trade represents a 6.95% decrease in their position. The sale 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 21st, Neil Kumar sold 26,103 shares of BridgeBio Pharma stock. The shares were sold at an average price of $69.44, for a total transaction of $1,812,592.32.
• 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 transaction of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total transaction of $2,749,200.00.

BridgeBio Pharma Stock Up 0.5%

Shares of BBIO stock opened at $67.68 on Wednesday. The company has a 50 day moving average price of $70.55 and a 200-day moving average price of $72.13. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The firm has a market capitalization of $13.26 billion, a PE ratio of -18.10 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last announced its 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 $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the business earned ($0.88) EPS. The company’s revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of BridgeBio Pharma by 2.1% during the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after buying an additional 347,074 shares during the period. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after buying an additional 2,178,556 shares during the period. Farallon Capital Management LLC increased its stake in shares of 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 period. Aisling Capital Management LP increased its stake in shares of BridgeBio Pharma by 0.4% during the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after buying an additional 21,486 shares during the period. Finally, Invesco Ltd. increased its stake in shares of 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 period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BBIO shares. Truist Financial increased their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. William Blair initiated coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating on the stock. Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Twenty-three research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.59.

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.