Insider Selling: BridgeBio Pharma (NASDAQ:BBIO) Director Sells $190,944.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Hannah Valantine sold 2,808 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the transaction, the director directly owned 11,455 shares of the company’s stock, valued at approximately $778,940. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hannah Valantine also recently made the following trade(s):

• On Tuesday, June 23rd, Hannah Valantine sold 2,196 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $70.24 on Friday. The business’s 50 day simple moving average is $68.88 and its 200-day simple moving average is $71.82. BridgeBio Pharma, Inc. has a 1 year low of $41.80 and a 1 year high of $84.94. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of -18.78 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the firm earned ($0.88) earnings per share. BridgeBio Pharma’s revenue was up 66.8% on a year-over-year basis. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in shares of BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock worth $978,608,000 after purchasing an additional 2,178,556 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after purchasing an additional 806,463 shares in the last quarter. Aisling Capital Management LP boosted its position in shares of BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after purchasing an additional 21,486 shares in the last quarter. Invesco Ltd. grew its stake in shares of BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after purchasing an additional 902,648 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after purchasing an additional 502,582 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBIO has been the topic of several analyst reports. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Mizuho cut their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. William Blair started coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of BridgeBio Pharma in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Twenty-one equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

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.