BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,053,600.00 in Stock

Key Points

• BridgeBio Pharma's CEO, Neil Kumar, sold 40,000 shares at an average price of $51.34, reducing his ownership by 4.27%.
• The company's stock has been volatile, currently trading up 1.7% at $54.29, with a twelve-month range of $21.72 to $54.60.
• BridgeBio Pharma reported earnings of ($0.95) EPS for the last quarter, missing expectations, but revenue increased significantly by nearly 5000% compared to the same quarter last year.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $51.34, for a total transaction of $2,053,600.00. Following the completion of the sale, the chief executive officer owned 895,686 shares in the company, valued at $45,984,519.24. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, August 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The stock was sold at an average price of $48.82, for a total transaction of $1,276,935.92.
• On Thursday, August 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $45.45, for a total transaction of $1,818,000.00.
• On Tuesday, July 1st, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $42.54, for a total transaction of $1,701,600.00.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $1.39 on Friday, reaching $51.21. The company's stock had a trading volume of 2,087,756 shares, compared to its average volume of 2,190,681. The stock's 50-day moving average is $48.54 and its two-hundred day moving average is $40.32. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $54.60. The stock has a market capitalization of $9.79 billion, a P/E ratio of -12.52 and a beta of 1.25.

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

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in shares of BridgeBio Pharma by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after acquiring an additional 89,521 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of BridgeBio Pharma by 1.1% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after purchasing an additional 40,000 shares during the period. Geode Capital Management LLC increased its stake in BridgeBio Pharma by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company's stock worth $158,991,000 after buying an additional 178,686 shares during the period. Invesco Ltd. increased its stake in BridgeBio Pharma by 27.0% during the 2nd quarter. Invesco Ltd. now owns 2,801,065 shares of the company's stock worth $120,950,000 after buying an additional 594,902 shares during the period. Finally, Woodline Partners LP lifted its holdings in BridgeBio Pharma by 132.9% in the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company's stock worth $60,684,000 after buying an additional 1,261,772 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BBIO. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Oppenheimer upped their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wolfe Research initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective on the stock. Citigroup upped their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Piper Sandler upped their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Seventeen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $63.94.

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.