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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $42.54, for a total transaction of $1,701,600.00. Following the sale, the chief executive officer owned 975,686 shares in the company, valued at approximately $41,505,682.44. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $2,505,000.00.
• On Monday, May 19th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $33.33, for a total value of $871,779.48.
• On Tuesday, April 22nd, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $34.11, for a total value of $2,558,250.00.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded up $0.88 during mid-day trading on Friday, hitting $43.71. 2,459,721 shares of the company's stock traded hands, compared to its average volume of 2,504,498. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $45.48. The company's 50-day moving average is $37.93 and its two-hundred day moving average is $34.63. The company has a market capitalization of $8.30 billion, a P/E ratio of -12.38 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. The company's revenue for the quarter was down 44.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) earnings per share. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after buying an additional 879,059 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the period. Frazier Life Sciences Management L.P. grew its holdings in BridgeBio Pharma by 1.1% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors raised its position in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of research analyst reports. Wolfe Research began coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price target on the stock. Bank of America boosted their target price on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. HC Wainwright upped their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Finally, Scotiabank boosted their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.85.

About BridgeBio Pharma

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.