Randal Scott Sells 10,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Randal Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $778,201.35. This represents a 46.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Up 1.0%

Shares of BBIO traded up $0.68 during trading hours on Tuesday, hitting $66.00. The company had a trading volume of 2,420,149 shares, compared to its average volume of 2,780,052. The firm has a market cap of $12.93 billion, a P/E ratio of -17.65 and a beta of 1.02. The stock’s 50 day moving average price is $71.36 and its 200 day moving average price is $71.80. BridgeBio Pharma, Inc. has a 52-week low of $31.77 and a 52-week high of $84.94.

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

Wall Street Analysts Forecast Growth

BBIO has been the topic of several analyst reports. Mizuho reiterated an “outperform” rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Royal Bank Of Canada initiated coverage on BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price objective on the stock. Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the stock an “outperform” rating in a report on Thursday, February 12th. Oppenheimer decreased their price objective on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, William Blair assumed coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Twenty-three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $88.90.

Institutional Trading of BridgeBio Pharma

Several large investors have recently modified their holdings of the business. Janus Henderson Group PLC grew 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 purchasing an additional 2,178,556 shares during the last quarter. California State Teachers Retirement System grew 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 purchasing an additional 31,797 shares during the last quarter. Rock Springs Capital Management LP grew 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 purchasing an additional 24,750 shares during the last quarter. Eagle Health Investments LP grew 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 purchasing an additional 7,731 shares during the last quarter. Finally, Quantinno Capital Management LP grew 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 purchasing an additional 21,464 shares during the last quarter. 99.85% of the stock is 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.