Jennifer Cook Sells 2,196 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 2,196 shares of BridgeBio Pharma stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the sale, the director directly owned 8,383 shares of the company’s stock, valued at approximately $574,822.31. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Trading Up 0.9%

Shares of BBIO stock traded up $0.63 during mid-day trading on Wednesday, reaching $69.26. The stock had a trading volume of 4,190,473 shares, compared to its average volume of 2,788,713. The business’s fifty day moving average is $69.37 and its 200-day moving average is $71.90. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of -18.52 and a beta of 0.97. BridgeBio Pharma, Inc. has a 1-year low of $41.80 and a 1-year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period last year, the business earned ($0.88) earnings per share. On average, analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently made changes to their positions in BBIO. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the third quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new position in BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma in the first quarter worth about $35,000. Huntington National Bank raised its position in shares of BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after acquiring an additional 392 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on BBIO shares. Oppenheimer dropped their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Mizuho cut their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Finally, Truist Financial lifted their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.05.

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.