BridgeBio Pharma (NASDAQ:BBIO) Director Sells 2,808 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Hannah Valantine sold 2,808 shares of BridgeBio Pharma stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the transaction, the director directly owned 11,455 shares of the company’s stock, valued at $778,940. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hannah Valantine also recently made the following trade(s):

• On Tuesday, June 23rd, Hannah Valantine sold 2,196 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72.

BridgeBio Pharma Stock Up 0.9%

NASDAQ:BBIO traded up $0.63 during mid-day trading on Wednesday, reaching $69.26. 4,190,473 shares of the company were exchanged, compared to its average volume of 2,788,713. The stock has a market cap of $13.56 billion, a PE ratio of -18.52 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12 month low of $41.80 and a 12 month high of $84.94. The company has a fifty day moving average of $69.37 and a 200 day moving average of $71.90.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho dropped their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. Oppenheimer decreased their price objective on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Canaccord Genuity Group assumed coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 target price for the company. Morgan Stanley upped their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Citigroup started coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target on the stock. Twenty-two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.05.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its stake in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after buying an additional 372 shares during the period. Farther Finance Advisors LLC boosted its holdings in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth about $41,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 861.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after acquiring an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $44,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.