BridgeBio Pharma (NASDAQ:BBIO) CFO Sells $888,407.08 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the transaction, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 3.0%

Shares of BBIO stock opened at $70.28 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $31.77 and a 1 year high of $84.94. The firm’s 50 day moving average is $71.35 and its 200-day moving average is $71.88. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of -18.79 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the previous year, the business earned ($0.88) EPS. BridgeBio Pharma’s revenue was up 66.8% compared to the same quarter last year. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently made changes to their positions in BBIO. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma in the third quarter valued at about $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Huntington National Bank raised its position in shares of BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after acquiring an additional 392 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of 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 acquiring an additional 245 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Citigroup assumed coverage on BridgeBio Pharma in a research report on Tuesday. They issued a “neutral” rating and a $82.00 price objective for the company. HC Wainwright upped 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, May 11th. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, William Blair assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They set an “outperform” rating for the company. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.90.

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.