Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Sells 17,167 Shares of Stock

Key Points

• Andrea Ellis, a director at BridgeBio Pharma, sold 17,167 shares at an average price of $49.00, reducing her holdings by 48.01%.
• BridgeBio's stock is currently trading at $45.95, having achieved a 12-month high of $49.77 and a low of $21.72.
• Despite missing EPS estimates in their last quarterly earnings report, BridgeBio Pharma reported a 4999.9% increase in revenue year-over-year, totaling $110.57 million.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Andrea Ellis sold 17,167 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total value of $841,183.00. Following the transaction, the director owned 18,589 shares in the company, valued at $910,861. This represents a 48.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

BridgeBio Pharma Stock Up 2.5%

Shares of NASDAQ BBIO traded up $1.14 on Thursday, hitting $45.95. The company had a trading volume of 2,662,131 shares, compared to its average volume of 3,068,048. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $49.77. The business has a 50 day moving average of $43.17 and a two-hundred day moving average of $37.32. The firm has a market capitalization of $8.73 billion, a P/E ratio of -11.23 and a beta of 1.23.

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

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the 2nd quarter worth $25,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 382 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter worth $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth $41,000. Finally, Sterling Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after acquiring an additional 1,514 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BBIO has been the subject of several research reports. Oppenheimer lifted their price objective on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, July 29th. HC Wainwright lifted their price objective on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, June 9th. UBS Group lifted their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Bank of America lifted their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $61.35.

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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