Andrea Ellis Sells 30,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 30,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $408,600. The trade was a 71.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $31.37 on Friday. The stock has a 50 day moving average of $34.01 and a 200 day moving average of $29.52. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -11.01 and a beta of 1.08. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. Analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Ironwood Investment Management LLC increased its holdings in BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock worth $1,733,000 after purchasing an additional 338 shares during the period. Summit Investment Advisors Inc. grew its position in shares of BridgeBio Pharma by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock worth $404,000 after buying an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the period. Mackenzie Financial Corp raised its holdings in BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Xponance Inc. lifted its stake in BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock worth $277,000 after acquiring an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBIO. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.64.

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.