BridgeBio Pharma (NASDAQ:BBIO) CEO Sells $2,984,800.00 in Stock

Key Points

• Neil Kumar, BridgeBio's CEO, sold 40,000 shares on April 9 at an average price of $74.62 for $2,984,800 under a pre-arranged Rule 10b5-1 plan, leaving him with 615,686 shares (a 6.10% reduction).
• The April sale is part of a string of recent insider disposals (Feb 10, Feb 19, Mar 12 and Apr 9) totaling 148,053 shares for about $10.61 million in proceeds.
• BridgeBio shares traded up 4.4% to $77.87; analysts show a consensus Moderate Buy rating with an average target of $87.38, while the company remains unprofitable with a market cap of roughly $15.1 billion.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00. Following the transaction, the chief executive officer owned 615,686 shares of the company's stock, valued at $45,942,489.32. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.73, for a total value of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.39, for a total value of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00.

BridgeBio Pharma Stock Up 4.4%

NASDAQ BBIO traded up $3.28 on Monday, reaching $77.87. The company had a trading volume of 2,588,548 shares, compared to its average volume of 2,723,704. The company's fifty day moving average is $70.92 and its 200 day moving average is $68.96. BridgeBio Pharma, Inc. has a 52-week low of $31.77 and a 52-week high of $84.94. The stock has a market capitalization of $15.10 billion, a P/E ratio of -20.60 and a beta of 1.09.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. During the same quarter in the previous year, the business posted ($1.40) EPS. The company's quarterly revenue was up 2521.2% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BBIO shares. William Blair started coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They set an "outperform" rating on the stock. Barclays restated an "overweight" rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. HC Wainwright boosted their price target on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Truist Financial boosted their price target on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Finally, Mizuho boosted their price target on shares of BridgeBio Pharma from $91.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, March 18th. Twenty-four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.38.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in BBIO. Aster Capital Management DIFC Ltd bought a new stake in BridgeBio Pharma in the third quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the third quarter worth about $34,000. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma in the first quarter worth about $35,000. First Horizon Corp bought a new stake in BridgeBio Pharma in the third quarter worth about $36,000. Finally, Huntington National Bank raised its position in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company's stock worth $39,000 after acquiring an additional 392 shares during the period. Institutional investors own 99.85% of the company's stock.

About BridgeBio Pharma

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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