Neil Kumar Sells 10,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

Key Points

• CEO Neil Kumar sold 10,000 BridgeBio Pharma shares at an average price of $69.08, generating $690,800; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 1.98%.
• BridgeBio shares traded near $66.58, while the company reported quarterly revenue of $243.68 million—up 120.4% year over year—but missed earnings expectations with a loss of $0.78 per share.
• Analysts remain broadly positive, with 20 Buy ratings and a consensus price target of $102.61; institutional investors own approximately 99.85% of the company.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $69.08, for a total value of $690,800.00. Following the transaction, the chief executive officer directly owned 495,686 shares of the company's stock, valued at $34,241,988.88. This represents a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neil Kumar also recently made the following trade(s):

• On Wednesday, August 19th, Neil Kumar sold 10,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $84.03, for a total transaction of $840,300.00.
• On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40.

BridgeBio Pharma Trading Down 0.0%

Shares of NASDAQ BBIO traded down $0.03 during midday trading on Monday, reaching $66.58. The company's stock had a trading volume of 3,155,903 shares, compared to its average volume of 2,894,566. The company has a market cap of $13.02 billion, a price-to-earnings ratio of -18.65 and a beta of 0.97. BridgeBio Pharma, Inc. has a one year low of $48.78 and a one year high of $93.42. The company has a 50 day moving average price of $79.31 and a 200 day moving average price of $73.77.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. The firm's quarterly revenue was up 120.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) earnings per share. Research analysts anticipate that BridgeBio Pharma, Inc. will post -2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter worth approximately $1,050,762,000. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock valued at $978,608,000 after acquiring an additional 2,178,556 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company's stock worth $344,689,000 after acquiring an additional 502,582 shares during the last quarter. Brooklands Fund Management Ltd acquired a new position in shares of BridgeBio Pharma in the fourth quarter worth $210,348,000. Finally, Franklin Resources Inc. raised its holdings in shares of BridgeBio Pharma by 49.9% during the fourth quarter. Franklin Resources Inc. now owns 2,164,928 shares of the company's stock worth $165,595,000 after acquiring an additional 720,905 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BBIO. Canaccord Genuity Group lifted their target price on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Morgan Stanley reduced their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Truist Financial lifted their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Mizuho boosted their target price on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, September 1st. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.61.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio's research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.

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