BridgeBio Pharma (NASDAQ:BBIO) CFO Sells $888,407.08 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the transaction, the chief financial officer owned 359,194 shares in the company, valued at approximately $23,376,345.52. This trade represents a 3.66% 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 Price Performance

BridgeBio Pharma stock traded up $0.68 during mid-day trading on Tuesday, reaching $66.00. 2,420,149 shares of the company were exchanged, compared to its average volume of 2,780,052. The company has a fifty day simple moving average of $71.36 and a 200-day simple moving average of $71.80. BridgeBio Pharma, Inc. has a 12 month low of $31.77 and a 12 month high of $84.94. The firm has a market cap of $12.93 billion, a PE ratio of -17.65 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the previous year, the business posted ($0.88) EPS. BridgeBio Pharma’s revenue for the quarter was up 66.8% on a year-over-year basis. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBIO. William Blair began coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They set an “outperform” rating on the stock. Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Leerink Partners restated an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Mizuho restated an “outperform” rating and set a $106.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Twenty-three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $88.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its holdings in BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the period. Farther Finance Advisors LLC lifted its holdings in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the period. Kemnay Advisory Services Inc. acquired a new position in BridgeBio Pharma during the 4th quarter worth about $41,000. Cary Street Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after buying an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in BridgeBio Pharma during the 4th quarter worth about $44,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.