Jennifer Cook Sells 37,167 Shares of BridgeBio Pharma (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Jennifer Cook sold 37,167 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $2,601,690.00. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at $586,810. The trade was a 81.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 $0.63 during trading on Wednesday, hitting $69.26. 4,190,473 shares of the company were exchanged, compared to its average volume of 2,788,713. BridgeBio Pharma, Inc. has a 1 year low of $41.80 and a 1 year high of $84.94. The company has a market cap of $13.56 billion, a price-to-earnings ratio of -18.52 and a beta of 0.97. The firm’s fifty day moving average price is $69.37 and its 200 day moving average price is $71.90.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 firm had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period in the previous year, the company earned ($0.88) EPS. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BBIO shares. HC Wainwright restated 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 BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Oppenheimer lowered their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Finally, William Blair initiated coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating for the company. Twenty-two equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.05.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma in the 3rd quarter valued at about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter worth about $35,000. Huntington National Bank grew its holdings 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 buying an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Hedge funds and other 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.