BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 5.5% on Insider Selling

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price traded down 5.5% during trading on Monday following insider selling activity. The company traded as low as $32.48 and last traded at $32.33. 1,082,052 shares were traded during trading, a decline of 61% from the average session volume of 2,802,673 shares. The stock had previously closed at $34.21.

Specifically, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BBIO shares. Evercore ISI upped their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Leerink Partners lowered their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank boosted their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

BridgeBio Pharma Trading Up 6.3 %

The firm has a market capitalization of $6.23 billion, a P/E ratio of -13.68 and a beta of 1.07. The firm has a 50 day moving average price of $30.18 and a 200-day moving average price of $27.22.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Emerald Advisers LLC boosted its position in shares of BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after buying an additional 437,164 shares during the period. First Turn Management LLC bought a new position in shares of BridgeBio Pharma during the third quarter valued at approximately $10,178,000. Emerald Mutual Fund Advisers Trust lifted its stake in shares of BridgeBio Pharma by 50.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock worth $19,129,000 after acquiring an additional 253,101 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in BridgeBio Pharma during the 3rd quarter valued at $3,497,000. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.