BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 26,103 Shares

Key Points

• BridgeBio Pharma CEO Neil Kumar sold 26,103 shares on May 21 at an average price of $69.44, generating about $1.81 million. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 9.69%.
• Kumar has also been active in selling shares recently, including 40,000-share sales on May 7, April 9, and March 12. These transactions suggest a recurring pattern of insider selling this year.
• The stock was trading around $67.73, below both its 50-day and 200-day moving averages, after BridgeBio reported quarterly earnings that missed EPS estimates but beat revenue expectations. Analysts remain mostly positive, with a consensus rating of Moderate Buy and a price target of $88.90.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 26,103 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $69.44, for a total transaction of $1,812,592.32. Following the completion of the transaction, the chief executive officer directly owned 243,327 shares in the company, valued at $16,896,626.88. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were 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 Price Performance

NASDAQ:BBIO traded down $1.39 during mid-day trading on Tuesday, reaching $67.73. The stock had a trading volume of 2,421,455 shares, compared to its average volume of 2,760,190. The stock has a market capitalization of $13.27 billion, a PE ratio of -18.11 and a beta of 1.02. BridgeBio Pharma, Inc. has a 12 month low of $31.77 and a 12 month high of $84.94. The stock has a 50-day simple moving average of $71.32 and a two-hundred day simple moving average of $71.98.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. The company's quarterly revenue was up 66.8% on a year-over-year basis. During the same period last year, the firm posted ($0.88) earnings per share. Equities analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho reiterated an "outperform" rating and issued a $106.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. Morgan Stanley lifted their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Oppenheimer dropped their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Leerink Partners reiterated an "outperform" rating and issued a $98.00 target price on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus price target of $88.90.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio lifted its position in shares of BridgeBio Pharma by 1.1% during the 3rd quarter. Strs Ohio now owns 18,600 shares of the company's stock valued at $966,000 after buying an additional 200 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in BridgeBio Pharma by 4.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company's stock worth $396,000 after buying an additional 244 shares during the period. Farther Finance Advisors LLC boosted its holdings in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after buying an additional 245 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock worth $3,970,000 after buying an additional 246 shares during the period. Finally, CWM LLC boosted its holdings in BridgeBio Pharma by 4.3% in the 4th quarter. CWM LLC now owns 6,444 shares of the company's stock worth $493,000 after buying an additional 265 shares during the period. Institutional investors own 99.85% of the company's stock.

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.

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