Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Sells 250,000 Shares of Stock

Key Points

• Charles J. Homcy, a director at BridgeBio Pharma, sold 250,000 shares at an average price of $46.05, totaling over $11.5 million, reducing his ownership by 20.55%.
• The company's stock increased by 1.8% during mid-day trading, reaching $49.09, with a significant trading volume of over 2.1 million shares.
• BridgeBio Pharma reported a substantial revenue increase of 4999.9% year-over-year, although it posted a loss of ($0.95) EPS, missing consensus estimates.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Charles J. Homcy sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the sale, the director directly owned 966,674 shares of the company's stock, valued at approximately $44,515,337.70. This trade represents a 20.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BridgeBio Pharma Stock Up 0.3%

Shares of NASDAQ BBIO traded up $0.14 during mid-day trading on Friday, reaching $51.32. 2,212,416 shares of the company were exchanged, compared to its average volume of 2,913,920. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $51.86. The company's 50 day moving average price is $44.91 and its 200 day moving average price is $37.94. The stock has a market capitalization of $9.81 billion, a PE ratio of -12.55 and a beta of 1.23.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million for the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. BridgeBio Pharma's revenue was up 4999.9% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BBIO shares. Oppenheimer raised their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. HC Wainwright raised their price objective on BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Piper Sandler boosted their price target 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. Jefferies Financial Group assumed coverage on shares of BridgeBio Pharma in a report on Monday, July 14th. They issued a "buy" rating and a $70.00 price target on the stock. Finally, Scotiabank increased their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $61.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BridgeBio Pharma during the second quarter valued at $25,000. GAMMA Investing LLC increased its holdings in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma in the 1st quarter worth about $35,000. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at about $41,000. Finally, Sterling Capital Management LLC grew its stake in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after purchasing an additional 1,514 shares during the period. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Company Profile

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.