BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 40,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total value of $2,191,200.00. Following the completion of the sale, the chief executive officer owned 855,686 shares of the company’s stock, valued at $46,874,479.08. The trade was a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, September 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $51.34, for a total value of $2,053,600.00.
• On Wednesday, August 20th, Neil Kumar sold 26,156 shares of BridgeBio Pharma stock. The shares were sold at an average price of $48.82, for a total value of $1,276,935.92.
• On Thursday, August 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $45.45, for a total value of $1,818,000.00.

BridgeBio Pharma Stock Up 1.3%

BBIO opened at $55.49 on Friday. The stock has a fifty day moving average of $51.09 and a 200-day moving average of $42.88. The firm has a market capitalization of $10.61 billion, a P/E ratio of -13.57 and a beta of 1.36. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $55.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. During the same period last year, the company posted ($0.39) EPS. The company’s quarterly revenue was up 4999.9% compared to the same quarter last year. On average, analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial assumed coverage on BridgeBio Pharma in a report on Wednesday, July 30th. They set an “outperform” rating and a $56.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Wolfe Research assumed coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an “outperform” rating and a $49.00 price objective for the company. Wells Fargo & Company increased their price objective on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, June 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.94.

Hedge Funds Weigh In On BridgeBio Pharma

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after buying an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of BridgeBio Pharma by 22.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares during the last quarter. Gabelli Funds LLC grew its position in shares of BridgeBio Pharma by 0.3% in the second quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after purchasing an additional 250 shares during the last quarter. First Bank & Trust grew its position in shares of BridgeBio Pharma by 3.9% in the second quarter. First Bank & Trust now owns 8,822 shares of the company’s stock valued at $381,000 after purchasing an additional 329 shares during the last quarter. Finally, Main Management ETF Advisors LLC grew its position in shares of BridgeBio Pharma by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after purchasing an additional 372 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.