Frank Mccormick Sells 100,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Frank Mccormick sold 100,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the completion of the sale, the director now owns 879,979 shares in the company, valued at approximately $38,921,471.17. This trade represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BridgeBio Pharma Trading Up 1.7%

Shares of BridgeBio Pharma stock traded up $0.74 during trading hours on Thursday, reaching $45.12. 2,587,109 shares of the company's stock were exchanged, compared to its average volume of 2,478,101. The stock has a market cap of $8.57 billion, a P/E ratio of -12.78 and a beta of 1.10. The company has a 50 day moving average of $36.67 and a two-hundred day moving average of $33.89. BridgeBio Pharma, Inc. has a fifty-two week low of $21.72 and a fifty-two week high of $45.27.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The business's revenue was down 44.8% on a year-over-year basis. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

BBIO has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Wolfe Research assumed coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price target for the company. HC Wainwright lifted their price objective on BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a report on Monday, June 9th. Bank of America increased their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.42.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in BBIO. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma during the first quarter worth $35,000. Steward Partners Investment Advisory LLC lifted its stake in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $41,000. Finally, Sterling Capital Management LLC grew its position in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring 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.

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