Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 40,000 Shares of Stock

Key Points

• CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock for approximately $1.82 million, reducing his holdings by 4.10% to about 935,686 shares valued at around $42.5 million.
• BridgeBio Pharma's stock has experienced significant volatility, with a recent price movement reaching $48.24 after a 52-week range of $21.72 to $49.77.
• The company reported earnings per share (EPS) of ($0.95) for the last quarter, missing expectations, but showed a substantial year-over-year revenue increase of 4999.9%.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $45.45, for a total value of $1,818,000.00. Following the completion of the sale, the chief executive officer owned 935,686 shares in the company, valued at approximately $42,526,928.70. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, July 1st, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $42.54, for a total value of $1,701,600.00.
• On Tuesday, May 20th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $33.40, for a total value of $2,505,000.00.
• On Monday, May 19th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The stock was sold at an average price of $33.33, for a total value of $871,779.48.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock traded up $1.66 during midday trading on Monday, reaching $48.24. The company's stock had a trading volume of 2,335,431 shares, compared to its average volume of 3,059,899. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $49.77. The stock has a market capitalization of $9.22 billion, a P/E ratio of -11.79 and a beta of 1.23. The stock's 50-day simple moving average is $43.66 and its 200-day simple moving average is $37.49.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The firm's revenue was up 4999.9% on a year-over-year basis. During the same period last year, the firm posted ($0.39) EPS. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Bank of America increased their price target on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Raymond James Financial initiated coverage on BridgeBio Pharma in a research report on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price target on the stock. 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, Jefferies Financial Group initiated coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price objective on the stock. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.35.

Institutional Trading of BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in BridgeBio Pharma in the second quarter valued at approximately $25,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the first quarter valued at approximately $35,000. Itau Unibanco Holding S.A. acquired a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $41,000. Finally, Sterling Capital Management LLC grew its holdings in BridgeBio Pharma by 554.6% in the fourth 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. 99.85% of the stock is owned by institutional investors and hedge funds.

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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