Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) CAO Sells $145,700.00 in Stock

Key Points

• BridgeBio Pharma CAO Maricel Apuli sold 2,000 shares for $145,700 at an average price of $72.85 under a pre-arranged Rule 10b5-1 plan. Apuli retained 120,687 shares after the sale.
• BridgeBio reported quarterly revenue of $353.17 million, up 192.6% year over year, and a loss of $0.42 per share—beating analyst estimates for both revenue and EPS.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $104.26; the shares were trading at $74.03 in the article.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total transaction of $145,700.00. Following the transaction, the chief accounting officer directly owned 120,687 shares of the company's stock, valued at $8,792,047.95. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded down $0.97 during trading hours on Tuesday, hitting $74.03. The company's stock had a trading volume of 2,478,769 shares, compared to its average volume of 2,901,362. BridgeBio Pharma, Inc. has a 52-week low of $60.22 and a 52-week high of $93.42. The business's 50-day moving average is $70.14 and its two-hundred day moving average is $72.82. The company has a market capitalization of $14.47 billion, a PE ratio of -24.35 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to analysts' expectations of $293.47 million. During the same period in the previous year, the business earned ($0.95) earnings per share. The business's revenue for the quarter was up 192.6% on a year-over-year basis. As a group, analysts predict that BridgeBio Pharma, Inc. will post -2.65 EPS for the current fiscal year.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. UBS Group reiterated a "buy" rating on shares of BridgeBio Pharma in a report on Friday. Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $87.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, October 19th. Finally, Bank of America raised their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Nineteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.26.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently modified their holdings of BBIO. Jupiter Topco LLC acquired a new position in shares of BridgeBio Pharma in the second quarter worth about $1,050,762,000. Janus Henderson Group PLC grew its position in shares of BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock worth $978,608,000 after acquiring an additional 2,178,556 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in BridgeBio Pharma during the second quarter valued at $145,663,000. Pictet Asset Management Holding SA raised its stake in BridgeBio Pharma by 16.8% during the third quarter. Pictet Asset Management Holding SA now owns 1,690,829 shares of the company's stock worth $111,290,000 after acquiring an additional 242,703 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in BridgeBio Pharma by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company's stock worth $98,797,000 after acquiring an additional 16,112 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio's portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.

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