BridgeBio Pharma (NASDAQ:BBIO) CFO Sells $871,641.19 in Stock

Key Points

• BridgeBio Pharma CFO Thomas Trimarchi sold 17,353 shares of the company's stock on August 18th for $871,641.19, resulting in a 3.61% decrease in his position.
• The company's recent quarterly earnings showed a loss of ($0.95) per share, which was worse than the consensus estimate, despite revenue surging 4999.9% year-over-year to $110.57 million.
• Multiple analysts have given BridgeBio Pharma a consensus "Buy" rating, with target prices ranging from $49.00 to $70.00, indicating positive investor sentiment amid recent volatility.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CFO Thomas Trimarchi sold 17,353 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $50.23, for a total transaction of $871,641.19. Following the completion of the sale, the chief financial officer directly owned 463,318 shares in the company, valued at approximately $23,272,463.14. This represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded down $0.11 during trading on Tuesday, hitting $48.91. The company's stock had a trading volume of 2,365,698 shares, compared to its average volume of 2,949,921. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $51.86. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -11.96 and a beta of 1.23. The stock has a 50-day moving average price of $45.11 and a two-hundred day moving average price of $38.06.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The firm's revenue was up 4999.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) earnings per share. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BBIO. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price objective on the stock. Raymond James Financial started coverage on shares of BridgeBio Pharma in a report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 target price on the stock. Piper Sandler upped their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wolfe Research started coverage on shares of BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price on the stock. Finally, Oppenheimer upped their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Seventeen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $61.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in BridgeBio Pharma by 29.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock valued at $1,065,000 after purchasing an additional 6,997 shares during the period. Capital Research Global Investors boosted its holdings in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares during the period. GAMMA Investing LLC lifted its holdings in shares of BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after acquiring an additional 382 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth $251,000. Finally, Legal & General Group Plc lifted its stake in BridgeBio Pharma by 2.8% in the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock worth $3,678,000 after purchasing an additional 3,706 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

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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