BridgeBio Pharma (NASDAQ:BBIO) Director Sells $3,933,840.00 in Stock

Key Points

• BridgeBio Pharma Director Frank Mccormick sold 74,000 shares of stock for approximately $3.93 million, reducing his ownership by 47.05% to 83,275 shares valued at about $4.43 million.
• The company's stock recently traded at $54.29, with a significant 12-month high of $54.60 and a low of $21.72.
• BridgeBio Pharma reported earnings of ($0.95) EPS for the last quarter, missing expectations, but saw a substantial revenue increase of 4999.9% year-over-year.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Frank Mccormick sold 74,000 shares of BridgeBio Pharma stock in a transaction on Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the transaction, the director owned 83,275 shares in the company, valued at approximately $4,426,899. This trade represents a 47.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Frank Mccormick also recently made the following trade(s):

• On Tuesday, June 24th, Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.91 on Monday, reaching $54.29. 2,050,779 shares of the company's stock traded hands, compared to its average volume of 2,247,988. The stock has a 50-day simple moving average of $47.58 and a 200-day simple moving average of $39.73. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $54.60.

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 the consensus estimate of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The company's quarterly revenue was up 4999.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) EPS. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBIO. Cetera Investment Advisers purchased a new stake in BridgeBio Pharma in the 4th quarter worth about $1,020,000. Hudson Bay Capital Management LP purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth approximately $3,088,000. Jefferies Financial Group Inc. bought a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $5,076,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock valued at $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BridgeBio Pharma by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,994 shares of the company's stock worth $2,468,000 after purchasing an additional 3,481 shares during the period. Institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several recent analyst reports. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target 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. HC Wainwright increased their price objective on shares of BridgeBio Pharma from $56.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 29th. Wells Fargo & Company raised their price objective on BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Raymond James Financial began coverage on BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 target price on the stock. Seventeen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Buy" and a consensus price target 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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