Neil Kumar Sells 75,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $33.57, for a total transaction of $2,517,750.00. Following the completion of the sale, the chief executive officer now owns 5,023,447 shares in the company, valued at $168,637,115.79. The trade was a 1.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Neil Kumar also recently made the following trade(s):

• On Wednesday, February 19th, Neil Kumar sold 31,543 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02.
• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded up $0.85 on Thursday, hitting $34.30. 4,057,719 shares of the company were exchanged, compared to its average volume of 3,190,594. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47. The company’s 50 day moving average price is $32.35 and its 200-day moving average price is $28.17. The firm has a market capitalization of $6.52 billion, a P/E ratio of -12.04 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analyst Weigh In

BBIO has been the subject of several recent analyst reports. Evercore ISI increased their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Scotiabank raised their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ironwood Investment Management LLC raised its holdings in shares of BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in BridgeBio Pharma by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after buying an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.