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 the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the sale, the chief executive officer directly owned 495,686 shares of the company’s stock, valued at $34,241,988.88. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Wednesday, August 19th, Neil Kumar sold 10,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $84.03, for a total value of $840,300.00.
• 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.

BridgeBio Pharma Price Performance

BBIO traded down $0.03 during midday trading on Monday, hitting $66.58. 3,155,903 shares of the company’s stock traded hands, compared to its average volume of 2,894,566. The company has a market cap of $13.02 billion, a PE ratio of -18.65 and a beta of 0.97. The stock’s fifty day simple moving average is $79.31 and its 200-day simple moving average is $73.77. BridgeBio Pharma, Inc. has a one year low of $48.78 and a one year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. During the same period last year, the company earned ($0.95) earnings per share. The firm’s quarterly revenue was up 120.4% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -2.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BBIO shares. Weiss Ratings raised shares of BridgeBio Pharma from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, September 10th. TD Cowen boosted their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. UBS Group reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Wednesday, September 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Integrated Wealth Concepts LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth $52,000. IFP Advisors Inc boosted its holdings in BridgeBio Pharma by 44.8% during the second quarter. IFP Advisors Inc now owns 1,160 shares of the company’s stock valued at $86,000 after acquiring an additional 359 shares during the period. Squarepoint Ops LLC boosted its holdings in BridgeBio Pharma by 114.2% during the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock valued at $88,760,000 after acquiring an additional 635,408 shares during the period. Arizona State Retirement System grew its position in shares of BridgeBio Pharma by 2.0% in the second quarter. Arizona State Retirement System now owns 40,501 shares of the company’s stock valued at $3,017,000 after purchasing an additional 802 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at about $410,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.