BridgeBio Pharma (NASDAQ:BBIO) Director Sells $6,011,788.80 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 90,240 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $66.62, for a total value of $6,011,788.80. Following the completion of the transaction, the director owned 6,589 shares in the company, valued at $438,959.18. The trade was a 93.20% decrease in their position. The sale was disclosed in a legal filing 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

Shares of NASDAQ BBIO traded up $0.75 during midday trading on Wednesday, reaching $67.39. The company’s stock had a trading volume of 1,601,496 shares, compared to its average volume of 2,772,661. BridgeBio Pharma, Inc. has a 12-month low of $39.65 and a 12-month high of $84.94. The firm has a 50 day moving average price of $69.99 and a 200-day moving average price of $72.07. The stock has a market capitalization of $13.20 billion, a P/E ratio of -18.02 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the previous year, the firm earned ($0.88) EPS. The firm’s revenue was up 66.8% on a year-over-year basis. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BBIO shares. Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a report on Thursday, March 12th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a report on Thursday, May 28th. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Mizuho lowered their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday. Twenty-two 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.05.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc bought a new stake in BridgeBio Pharma during the 3rd quarter valued at $4,620,000. L & S Advisors Inc bought a new position in shares of BridgeBio Pharma in the third quarter worth $877,000. HighVista Strategies LLC increased its holdings in shares of BridgeBio Pharma by 21.4% in the third quarter. HighVista Strategies LLC now owns 81,959 shares of the company’s stock worth $4,257,000 after purchasing an additional 14,460 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of BridgeBio Pharma by 14,211.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after purchasing an additional 987,273 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of BridgeBio Pharma in the fourth quarter worth $789,000. Institutional investors 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.