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 that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the transaction, the chief executive officer owned 535,686 shares of the company’s stock, valued at $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 21st, Neil Kumar sold 26,103 shares of BridgeBio Pharma stock. The shares were sold at an average price of $69.44, for a total value of $1,812,592.32.
• On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00.
• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $68.73, for a total value of $2,749,200.00.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $67.37 on Tuesday. The company has a market capitalization of $13.20 billion, a P/E ratio of -18.01 and a beta of 0.98. BridgeBio Pharma, Inc. has a one year low of $38.57 and a one year high of $84.94. The stock has a 50 day moving average price of $70.59 and a 200-day moving average price of $72.12.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. The firm’s revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) EPS. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently made changes to their positions in BBIO. Aster Capital Management DIFC Ltd bought a new stake in shares of BridgeBio Pharma during the third quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the third quarter worth $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the first quarter worth $35,000. Huntington National Bank lifted its position in shares of BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BBIO. Mizuho restated an “outperform” rating and issued a $106.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Wells Fargo & Company raised their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Canaccord Genuity Group began coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target for the company. Citigroup began coverage on BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target for the company. Finally, Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty-three investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.59.

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.