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 stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total value of $2,765,250.00. Following the sale, the chief executive officer now owns 4,948,447 shares in the company, valued at $182,449,240.89. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, February 25th, Neil Kumar sold 75,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $33.57, for a total transaction of $2,517,750.00.
• On Wednesday, February 19th, Neil Kumar sold 31,543 shares of BridgeBio Pharma stock. The shares were sold at an average price of $36.14, for a total transaction of $1,139,964.02.
• On Tuesday, January 28th, Neil Kumar sold 326,932 shares of BridgeBio Pharma stock. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $0.30 during mid-day trading on Thursday, reaching $36.40. 1,705,922 shares of the company’s stock were exchanged, compared to its average volume of 2,142,931. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The business’s fifty day simple moving average is $34.19 and its two-hundred day simple moving average is $29.21. The firm has a market capitalization of $6.92 billion, a PE ratio of -12.77 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BBIO. HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Citigroup lifted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Evercore ISI lifted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Scotiabank increased their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $52.90.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its stake in BridgeBio Pharma by 1.1% during the third quarter. Swiss National Bank now owns 219,300 shares of the company’s stock worth $5,583,000 after purchasing an additional 2,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $309,000. Advisors Asset Management Inc. lifted its position in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the last quarter. Intech Investment Management LLC acquired a new stake in BridgeBio Pharma in the third quarter valued at about $1,136,000. Finally, Charles Schwab Investment Management Inc. grew its position in BridgeBio Pharma by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after acquiring an additional 95,605 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Company Profile

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.