BridgeBio Pharma (NASDAQ:BBIO) Director Jennifer Cook Sells 2,196 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 2,196 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the transaction, the director owned 8,383 shares in the company, valued at approximately $574,822.31. This trade represents a 20.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $69.26 on Thursday. The stock has a fifty day moving average price of $69.20 and a 200-day moving average price of $71.86. The company has a market cap of $13.56 billion, a price-to-earnings ratio of -18.52 and a beta of 0.97. BridgeBio Pharma, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) 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. During the same quarter in the prior year, the business posted ($0.88) earnings per share. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. Research analysts predict that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Mizuho decreased their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Finally, Oppenheimer cut their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Twenty-one analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.90.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBIO. Parallel Advisors LLC lifted its holdings in shares of BridgeBio Pharma by 552.6% in the first quarter. Parallel Advisors LLC now owns 894 shares of the company’s stock worth $66,000 after acquiring an additional 757 shares during the last quarter. Avidity Partners Management LP acquired a new stake in shares of BridgeBio Pharma in the 1st quarter valued at approximately $711,000. Janus Henderson Group PLC boosted its stake in shares of BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after purchasing an additional 2,178,556 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of BridgeBio Pharma by 23.7% during the 1st quarter. California State Teachers Retirement System now owns 165,703 shares of the company’s stock valued at $12,305,000 after purchasing an additional 31,797 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in shares of BridgeBio Pharma by 23.9% during the 1st quarter. Rock Springs Capital Management LP now owns 128,250 shares of the company’s stock valued at $9,524,000 after purchasing an additional 24,750 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

About BridgeBio Pharma

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.