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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $68.73, for a total value of $2,749,200.00. Following the completion of the transaction, the chief executive officer owned 655,686 shares in the company, valued at $45,065,298.78. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The shares were sold at an average price of $71.39, for a total value of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00.
• On Thursday, January 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $73.97, for a total transaction of $2,958,800.00.

BridgeBio Pharma Stock Performance

BBIO traded up $1.62 on Monday, reaching $71.03. The company had a trading volume of 1,626,854 shares, compared to its average volume of 3,150,863. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $84.94. The company has a market cap of $13.77 billion, a price-to-earnings ratio of -18.79 and a beta of 1.13. The business has a 50 day simple moving average of $72.97 and a 200 day simple moving average of $66.18.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. BridgeBio Pharma’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.40) earnings per share. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBIO. Truist Financial raised their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. HC Wainwright increased their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Sanford C. Bernstein started coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 target price for the company. Finally, Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Twenty-three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.95.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently bought and sold shares of the stock. Brooklands Fund Management Ltd purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after buying an additional 2,261,181 shares during the period. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after buying an additional 2,259,378 shares during the period. Norges Bank bought a new stake in BridgeBio Pharma during the 2nd quarter valued at $84,488,000. Finally, Wellington Management Group LLP raised its holdings in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after buying an additional 1,329,537 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.