Neil Kumar Sells 26,103 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 26,103 shares of BridgeBio Pharma stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $69.44, for a total value of $1,812,592.32. Following the completion of the transaction, the chief executive officer owned 243,327 shares in the company, valued at approximately $16,896,626.88. This represents a 9.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00.

BridgeBio Pharma Stock Down 1.9%

BridgeBio Pharma stock opened at $66.44 on Thursday. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94. The business’s 50-day moving average price is $71.20 and its two-hundred day moving average price is $72.05. The stock has a market cap of $13.01 billion, a PE ratio of -17.76 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the previous year, the company posted ($0.88) EPS. The firm’s revenue was up 66.8% on a year-over-year basis. As a group, analysts expect that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BBIO shares. Citigroup started coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target on the stock. Royal Bank Of Canada started coverage on BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target on the stock. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Leerink Partners restated an “outperform” rating and set a $98.00 price target on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, Truist Financial boosted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.90.

Institutional Trading of BridgeBio Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in BBIO. Janus Henderson Group PLC lifted its stake in shares of BridgeBio Pharma by 19.8% in the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after acquiring an additional 2,178,556 shares during the period. California State Teachers Retirement System lifted its stake in shares of BridgeBio Pharma by 23.7% in the first quarter. California State Teachers Retirement System now owns 165,703 shares of the company’s stock worth $12,305,000 after acquiring an additional 31,797 shares during the period. Rock Springs Capital Management LP lifted its stake in shares of BridgeBio Pharma by 23.9% in the first quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company’s stock worth $9,524,000 after acquiring an additional 24,750 shares during the period. Eagle Health Investments LP lifted its stake in shares of BridgeBio Pharma by 3.0% in the first quarter. Eagle Health Investments LP now owns 267,031 shares of the company’s stock worth $19,830,000 after acquiring an additional 7,731 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of BridgeBio Pharma by 199.2% in the first quarter. Quantinno Capital Management LP now owns 32,240 shares of the company’s stock worth $2,394,000 after acquiring an additional 21,464 shares during the period. 99.85% of the stock is currently 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.