Neil Kumar Sells 10,000 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total value of $840,300.00. Following the completion of the transaction, the chief executive officer owned 505,686 shares in the company, valued at $42,492,794.58. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40.
• On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $81.50 on Friday. The stock’s 50-day moving average is $78.85 and its 200 day moving average is $73.32. BridgeBio Pharma, Inc. has a 1-year low of $46.81 and a 1-year high of $93.42. The company has a market cap of $15.93 billion, a P/E ratio of -22.83 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. The business’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.95) EPS. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on BBIO. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Mizuho lowered their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. TD Cowen lifted their price target on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company upped their price target on BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Citigroup increased their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.79.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently modified their holdings of the stock. First Bank & Trust boosted its stake in BridgeBio Pharma by 1.6% in the 2nd quarter. First Bank & Trust now owns 8,797 shares of the company’s stock worth $655,000 after purchasing an additional 142 shares in the last quarter. GAMMA Investing LLC grew its position in BridgeBio Pharma by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,646 shares of the company’s stock worth $123,000 after purchasing an additional 199 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in BridgeBio Pharma by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after purchasing an additional 244 shares in the last quarter. Farther Finance Advisors LLC increased its stake in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in BridgeBio Pharma by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.