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

BridgeBio Pharma logo with Medical background

Key Points

  • Neil Kumar, CEO of BridgeBio Pharma, sold 40,000 shares of the company's stock for approximately $2.19 million on October 8th, leading to a 4.47% decrease in his total holdings.
  • BridgeBio Pharma's stock price increased to $55.49 following a trading session, with analysts giving it an average rating of "Moderate Buy" and a consensus target price of $63.94.
  • The company reported a significant increase in revenue, up 4999.9% year-over-year, despite a quarterly earnings miss of ($0.95) per share compared to the expected ($0.83).
  • Five stocks to consider instead of BridgeBio Pharma.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the transaction, the chief executive officer owned 855,686 shares of the company's stock, valued at approximately $46,874,479.08. The trade was a 4.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Thursday, September 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $51.34, for a total transaction of $2,053,600.00.
  • 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.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.70 during trading hours on Friday, reaching $55.49. 3,263,110 shares of the company traded hands, compared to its average volume of 2,875,336. The firm's 50-day moving average is $50.93 and its 200-day moving average is $42.76. The stock has a market cap of $10.61 billion, a P/E ratio of -13.57 and a beta of 1.36. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $55.94.

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

Analysts Set New Price Targets

A number of research firms have weighed in on BBIO. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Oppenheimer increased their price target on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Jefferies Financial Group initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 14th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and a consensus target price of $63.94.

Read Our Latest Analysis on BBIO

Institutional Trading of BridgeBio Pharma

Large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of BridgeBio Pharma by 29.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock valued at $1,065,000 after acquiring an additional 6,997 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of BridgeBio Pharma during the first quarter valued at about $251,000. Baird Financial Group Inc. acquired a new stake in shares of BridgeBio Pharma during the first quarter valued at about $1,429,000. Finally, Moss Adams Wealth Advisors LLC grew its stake in shares of BridgeBio Pharma by 49.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company's stock valued at $1,044,000 after acquiring an additional 7,970 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for BridgeBio Pharma (NASDAQ:BBIO)

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