Key Points
- BridgeBio CEO Neil Kumar sold 26,156 shares on Nov. 20 at an average price of $65.84 for $1,722,111.04, reducing his direct stake by 10.26% to 228,776 shares valued at about $15.06 million.
- The Nov. 20 sale is part of a recent pattern of insider selling (40,000 shares on Sep. 4, 40,000 on Oct. 8, 40,000 on Nov. 6), totaling roughly 146,156 shares and about $8.49 million in proceeds over the past months.
- For context, BridgeBio (NASDAQ:BBIO) recently missed quarterly EPS expectations while posting strong revenue growth, trades near its one-year high with a market cap around $13.7 billion, and carries a consensus analyst rating of “Moderate Buy” with a $74.37 target.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 26,156 shares of BridgeBio Pharma stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $65.84, for a total transaction of $1,722,111.04. Following the completion of the transaction, the chief executive officer directly owned 228,776 shares in the company, valued at $15,062,611.84. This represents a 10.26% decrease in their ownership of the stock. The transaction 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 Thursday, November 6th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $63.15, for a total value of $2,526,000.00.
- On Wednesday, October 8th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $54.78, for a total value of $2,191,200.00.
- On Thursday, September 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $51.34, for a total value of $2,053,600.00.
BridgeBio Pharma Stock Performance
BridgeBio Pharma stock opened at $70.99 on Tuesday. The stock has a market cap of $13.68 billion, a PE ratio of -16.98 and a beta of 1.39. The stock has a 50-day moving average of $58.20 and a two-hundred day moving average of $48.96. BridgeBio Pharma, Inc. has a one year low of $25.34 and a one year high of $71.44.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $120.70 million for the quarter, compared to analysts' expectations of $107.71 million. The firm's quarterly revenue was up 4318.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.86) EPS. As a group, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BridgeBio Pharma in the second quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of BridgeBio Pharma in the third quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma during the third quarter worth about $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the first quarter worth about $35,000. Finally, First Horizon Corp acquired a new position in BridgeBio Pharma in the third quarter valued at approximately $36,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of BridgeBio Pharma in a report on Monday, November 3rd. Scotiabank upped their target price on BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. TD Cowen lifted their price target on BridgeBio Pharma from $60.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company boosted their price target on BridgeBio Pharma from $76.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, November 11th. Twenty investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.37.
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BridgeBio Pharma Company Profile
(
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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.
Further Reading
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