BridgeBio Pharma (NASDAQ:BBIO) CEO Neil Kumar Sells 40,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the transaction, the chief executive officer directly owned 575,686 shares in the company, valued at approximately $39,089,079.40. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

• BridgeBio's Volatile Week Puts Biotech Stocks Under a Microscope

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

• On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $74.62, for a total value of $2,984,800.00.
• On Thursday, March 12th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $68.73, for a total value of $2,749,200.00.
• On Thursday, February 19th, Neil Kumar sold 28,053 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.39, for a total value of $2,002,703.67.
• On Tuesday, February 10th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $71.94, for a total value of $2,877,600.00.

BridgeBio Pharma Price Performance

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Shares of BBIO stock opened at $64.68 on Tuesday. The business's fifty day moving average price is $71.23 and its 200 day moving average price is $71.47. BridgeBio Pharma, Inc. has a 1-year low of $31.77 and a 1-year high of $84.94. The firm has a market capitalization of $12.67 billion, a PE ratio of -17.29 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. During the same quarter in the previous year, the company earned ($0.88) earnings per share. BridgeBio Pharma's revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.05 earnings per share for the current fiscal year.

Key Stories Impacting BridgeBio Pharma

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: BridgeBio reported new data showing acoramidis continued to demonstrate disease-modifying effects in ATTR-CM, with reduced sTTR variability and fewer outpatient worsening heart-failure events, which could support confidence in the drug’s commercial potential. Article: Acoramidis Continues to Demonstrate Disease-Modifying Effects in ATTR-CM, Reducing sTTR Variability and Outpatient Worsening Heart Failure
• Positive Sentiment: The company announced a $500 million stock repurchase program, a shareholder-friendly move that can signal confidence in future cash generation and help support the share price. Article: BridgeBio Pharma Announces $500 Million Stock Repurchase Program
• Positive Sentiment: HC Wainwright raised its price target on BridgeBio Pharma to $110 from $100 and reiterated a buy rating, reinforcing a constructive analyst outlook. Article: HC Wainwright price target raise on BridgeBio Pharma
• Positive Sentiment: RBC Capital also remained positive on the stock with a buy rating, suggesting continued analyst support after recent quarterly results. Article: RBC Capital Remains a Buy on BridgeBio Pharma (BBIO)
• Neutral Sentiment: Analysts are updating their BridgeBio estimates after the company’s first-quarter results, which may indicate renewed focus on the outlook but does not, by itself, signal a clear directional catalyst. Article: Analysts Are Updating Their BridgeBio Pharma, Inc. (NASDAQ:BBIO) Estimates After Its First-Quarter Results
• Neutral Sentiment: Reported short-interest data showed 0 shares short, making the update effectively non-informative for near-term trading sentiment. Article: BridgeBio Pharma short interest update
• Negative Sentiment: CEO Neil Kumar sold 40,000 shares in a pre-arranged transaction, which can pressure sentiment even though it was disclosed under a 10b5-1 trading plan. Article: SEC Form 4 insider sale by Neil Kumar

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after acquiring an additional 372 shares in the last quarter. Farther Finance Advisors LLC lifted 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 acquiring an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at $41,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock valued at $43,000 after acquiring an additional 508 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at $44,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BBIO. William Blair began coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an "outperform" rating on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Leerink Partners reaffirmed an "outperform" rating and set a $98.00 price objective on shares of BridgeBio Pharma in a report on Thursday, March 12th. Barclays reaffirmed an "overweight" rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Finally, Morgan Stanley boosted their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Twenty-four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.19.

Read Our Latest Report on BBIO

BridgeBio Pharma Company Profile

(Get Free Report)

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.

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