BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 40,000 Shares

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 that occurred 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 transaction, the chief executive officer directly owned 895,686 shares in the company, valued at approximately $45,984,519.24. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $45.45, for a total value 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 Trading Up 1.7%

NASDAQ:BBIO traded up $0.91 during trading hours on Monday, reaching $54.29. 2,050,779 shares of the stock were exchanged, compared to its average volume of 2,247,988. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $54.60. The firm has a 50 day moving average of $47.58 and a 200 day moving average of $39.73.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its 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 company had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. The business's revenue was up 4999.9% compared to the same quarter last year. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BridgeBio Pharma in the second quarter worth about $25,000. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares during the period. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the first quarter valued at about $35,000. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 22.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company's stock worth $54,000 after purchasing an additional 228 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of BridgeBio Pharma in the fourth quarter worth about $109,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BBIO has been the topic of several recent research reports. Wolfe Research started coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price on the stock. Bank of America upped their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. HC Wainwright raised their price target on shares of BridgeBio Pharma from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Citigroup lifted their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price 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. Seventeen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.35.

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.

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