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 $84.03, generating $840,300. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.94%.
• BridgeBio reported quarterly revenue of $243.68 million, up 120.4% year over year, but missed analysts’ earnings expectations with a loss of $0.78 per share versus the projected $0.58 loss.
• Analysts remain broadly bullish, with 20 Buy ratings, two Holds and one Sell; the consensus price target is $100.79 compared with the stock’s recent price of $82.94.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total transaction of $840,300.00. Following the completion of the sale, the chief executive officer owned 505,686 shares in the company, valued at $42,492,794.58. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock traded down $1.01 during mid-day trading on Thursday, reaching $82.94. The company's stock had a trading volume of 1,885,678 shares, compared to its average volume of 2,985,242. BridgeBio Pharma, Inc. has a 12 month low of $46.81 and a 12 month high of $93.42. The business's 50 day simple moving average is $78.25 and its 200 day simple moving average is $73.22. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of -23.23 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to analysts' expectations of $220.91 million. During the same quarter in the previous year, the business earned ($0.95) earnings per share. BridgeBio Pharma's quarterly revenue was up 120.4% on a year-over-year basis. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler upped their price objective on BridgeBio Pharma from $111.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. TD Cowen increased their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their price target on BridgeBio Pharma from $98.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Mizuho reduced their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating for the company in a research report on Tuesday, June 16th. Twenty investment 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's stock. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus price target of $100.79.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently made changes to their positions in BBIO. Silvant Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the second quarter valued at approximately $28,000. Allworth Financial LP acquired a new stake in BridgeBio Pharma during the 2nd quarter worth approximately $31,000. Global Retirement Partners LLC boosted its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after purchasing an additional 372 shares during the period. Farther Finance Advisors LLC boosted its stake in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after purchasing an additional 245 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in BridgeBio Pharma in the 4th quarter valued at $41,000. Institutional investors own 99.85% of the company's stock.

About BridgeBio Pharma

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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