Neil Kumar Sells 40,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

Key Points

• BridgeBio Pharma CEO Neil Kumar sold 40,000 shares on June 4 at an average price of $67.46, totaling about $2.7 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 535,686 shares.
• The stock slipped 0.4% to $67.37 in Monday trading, with volume below its average. BBIO remains well above its 52-week low of $38.57 but below its 52-week high of $84.94.
• BridgeBio beat revenue estimates but missed EPS expectations in its latest quarterly report, posting revenue of $194.52 million and EPS of -$0.84. Analysts currently rate the stock a “Moderate Buy” with an average price target of $89.59.

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer owned 535,686 shares of the company's stock, valued at approximately $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 21st, Neil Kumar sold 26,103 shares of BridgeBio Pharma stock. The stock was sold at an average price of $69.44, for a total transaction of $1,812,592.32.
• On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.90, for a total transaction of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was 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 stock was sold at an average price of $68.73, for a total transaction of $2,749,200.00.

BridgeBio Pharma Trading Down 0.4%

BBIO traded down $0.24 during trading on Monday, hitting $67.37. 1,751,907 shares of the company's stock were exchanged, compared to its average volume of 2,809,104. BridgeBio Pharma, Inc. has a 1 year low of $38.57 and a 1 year high of $84.94. The stock has a 50 day moving average price of $70.70 and a 200 day moving average price of $72.11. The firm has a market cap of $13.20 billion, a P/E ratio of -18.01 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the prior year, the company posted ($0.88) EPS. The firm's revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts forecast that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BBIO. Raymond James Financial downgraded shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. HC Wainwright restated a "buy" rating and set a $110.00 target price on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Wells Fargo & Company lifted their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Truist Financial increased their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. Twenty-three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $89.59.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in BridgeBio Pharma by 552.6% in the first quarter. Parallel Advisors LLC now owns 894 shares of the company's stock valued at $66,000 after buying an additional 757 shares during the last quarter. Avidity Partners Management LP bought a new stake in BridgeBio Pharma in the first quarter valued at about $711,000. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock worth $978,608,000 after purchasing an additional 2,178,556 shares during the period. California State Teachers Retirement System raised its holdings in shares of BridgeBio Pharma by 23.7% during the first quarter. California State Teachers Retirement System now owns 165,703 shares of the company's stock worth $12,305,000 after purchasing an additional 31,797 shares during the period. Finally, Rock Springs Capital Management LP raised its holdings in shares of BridgeBio Pharma by 23.9% during the first quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company's stock worth $9,524,000 after purchasing an additional 24,750 shares during the period. 99.85% of the stock is owned by institutional investors.

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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