Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 31,543 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 31,543 shares of BridgeBio Pharma stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total value of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $36.85 on Friday. The stock has a 50 day moving average price of $31.90 and a 200-day moving average price of $27.93. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The company has a market capitalization of $6.96 billion, a P/E ratio of -15.29 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of analyst reports. Scotiabank increased their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday. Evercore ISI raised their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Bank of America upped their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday. Finally, Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. purchased a new stake in BridgeBio Pharma during the third quarter valued at approximately $1,286,000. First Turn Management LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $10,178,000. Janus Henderson Group PLC increased its position in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Intech Investment Management LLC purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at $1,136,000. Finally, Principal Financial Group Inc. lifted its position in BridgeBio Pharma by 1.8% in the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.