Charles J. Homcy Sells 50,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock

Key Points

• Charles J. Homcy, a director at BridgeBio Pharma, sold 50,000 shares at an average price of $48.00, totaling $2.4 million, reducing his ownership by 5.17% to approximately $44 million.
• BridgeBio Pharma reported a quarterly loss of ($0.95) earnings per share, missing estimates, but achieved revenue of $110.57 million, exceeding expectations and showing a 4999.9% year-over-year increase.
• Wall Street analysts maintain a positive outlook for BridgeBio, with a consensus price target of $61.35 and most ratings being "outperform" or "buy".

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Charles J. Homcy sold 50,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the transaction, the director owned 916,674 shares of the company's stock, valued at $44,000,352. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

BridgeBio Pharma Stock Up 0.3%

Shares of NASDAQ:BBIO traded up $0.14 during midday trading on Friday, hitting $51.32. 2,212,416 shares of the stock traded hands, compared to its average volume of 2,913,920. The stock has a market capitalization of $9.81 billion, a PE ratio of -12.55 and a beta of 1.23. The business's 50 day moving average is $44.91 and its two-hundred day moving average is $37.94. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $51.86.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million for the quarter, compared to analysts' expectations of $98.46 million. The company's revenue was up 4999.9% on a year-over-year basis. During the same period last year, the business posted ($0.39) earnings per share. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock valued at $134,672,000 after acquiring an additional 89,521 shares in the last quarter. Farallon Capital Management LLC boosted its position in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock valued at $115,111,000 after acquiring an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after acquiring an additional 40,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BridgeBio Pharma by 5.1% during the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company's stock valued at $158,991,000 after purchasing an additional 178,686 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Wells Fargo & Company upped their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Raymond James Financial began coverage on shares of BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 target price for the company. Oppenheimer upped their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Bank of America upped their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Wolfe Research assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.35.

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.