Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) Director Sells $1,442,028.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the sale, the director owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% 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 Down 3.3%

Shares of BridgeBio Pharma stock traded down $2.81 during trading hours on Monday, reaching $83.08. 3,372,446 shares of the company’s stock were exchanged, compared to its average volume of 3,149,090. The company has a 50 day moving average of $69.76 and a two-hundred day moving average of $72.09. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42. The stock has a market cap of $16.27 billion, a P/E ratio of -22.21 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 firm had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.88) EPS. As a group, analysts expect that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current fiscal year.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position 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 valued at $978,608,000 after buying an additional 2,178,556 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after acquiring an additional 806,463 shares during the period. Invesco Ltd. increased its holdings in shares of BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after acquiring an additional 902,648 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after acquiring an additional 502,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after acquiring an additional 2,261,181 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BBIO shares. Citigroup began coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective on the stock. Truist Financial raised their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price target on the stock. Finally, Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Twenty-one analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $93.40.

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.