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

Key Points

• BridgeBio Pharma CEO Neil Kumar sold 40,000 shares on May 7 at an average price of $67.90, for proceeds of about $2.72 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and Kumar still directly owns 575,686 shares.
• This is part of a series of recent insider sales by Kumar, including similar 40,000-share sales in April and March, plus additional sales in February. The repeated transactions have reduced his ownership stake over time.
• BridgeBio shares fell after the report and were trading at $64.68, while the company also recently reported a quarterly loss that missed EPS expectations but beat revenue estimates. Wall Street remains broadly positive, with most analysts rating the stock a buy and a consensus target price of $88.19.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the sale, the chief executive officer directly owned 575,686 shares in the company, valued at $39,089,079.40. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total transaction of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.39, for a total transaction of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.94, for a total transaction of $2,877,600.00.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded down $2.71 during midday trading on Monday, hitting $64.68. 3,648,376 shares of the company traded hands, compared to its average volume of 2,784,258. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of -17.29 and a beta of 1.02. The firm's fifty day moving average price is $71.27 and its 200-day moving average price is $71.32. BridgeBio Pharma, Inc. has a 12 month low of $31.77 and a 12 month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to analysts' expectations of $178.07 million. During the same quarter last year, the firm earned ($0.88) earnings per share. BridgeBio Pharma's revenue was up 66.8% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.05 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company's stock worth $874,257,000 after acquiring an additional 347,074 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company's stock worth $841,349,000 after acquiring an additional 2,259,378 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company's stock worth $688,292,000 after acquiring an additional 806,463 shares in the last quarter. Aisling Capital Management LP grew its stake in shares of BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company's stock worth $316,294,000 after acquiring an additional 21,486 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company's stock worth $369,547,000 after acquiring an additional 902,648 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBIO. William Blair started coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an "outperform" rating on the stock. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an "outperform" rating in a research report on Thursday, February 12th. Truist Financial boosted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. TD Cowen reiterated a "buy" rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Finally, HC Wainwright boosted their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Monday. Twenty-four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.19.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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