Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CAO Sells $39,511.26 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CAO Maricel Apuli sold 1,026 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the transaction, the chief accounting officer now owns 147,639 shares of the company’s stock, valued at approximately $5,685,577.89. This trade represents a 0.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $34.85 on Friday. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -12.23 and a beta of 1.15. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54. The stock’s 50 day moving average price is $34.26 and its two-hundred day moving average price is $31.14.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The firm’s revenue was down 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after buying an additional 382 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC raised its position in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after purchasing an additional 1,514 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $109,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several analyst reports. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Redburn Atlantic initiated coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price target on the stock. Citigroup raised their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, UBS Group upped their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.09.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.