BridgeBio Pharma (NASDAQ:BBIO) Director Jennifer Cook Sells 148,589 Shares

Key Points

• BridgeBio Pharma director Jennifer Cook sold 148,589 shares on July 9 at an average price of $88.54, totaling about $13.16 million. After the transaction, she retained 8,383 shares, a 94.66% reduction in her stake, and the sale was made under a pre-arranged Rule 10b5-1 plan.
• BridgeBio shares were down 3.3% in mid-day trading, falling to $83.08 amid active volume. The stock has traded between $42.09 and $93.42 over the past year and has a market cap of about $16.27 billion.
• In its latest quarterly report, BridgeBio posted a smaller-than-expected loss of $0.84 per share while revenue reached $194.51 million, well above year-ago levels. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $93.40.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Jennifer Cook sold 148,589 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the sale, the director owned 8,383 shares in the company, valued at approximately $742,230.82. This represents a 94.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Down 3.3%

Shares of NASDAQ BBIO traded down $2.81 during mid-day trading on Monday, hitting $83.08. The company had a trading volume of 3,372,446 shares, compared to its average volume of 3,149,090. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of -22.21 and a beta of 0.95. BridgeBio Pharma, Inc. has a 1 year low of $42.09 and a 1 year high of $93.42. The stock's 50-day moving average price is $69.76 and its 200-day moving average price is $72.09.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter last year, the firm posted ($0.88) EPS. The business's revenue for the quarter was up 66.8% compared to the same quarter last year. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the 1st quarter worth $35,000. Farther Finance Advisors LLC increased its holdings in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after buying an additional 245 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after buying an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BBIO shares. Truist Financial raised their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $104.00 target price on the stock. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price target for the company. Finally, HC Wainwright boosted their price target on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Monday. Twenty-one research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.40.

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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