Key Points
- BridgeBio Pharma CEO Neil Kumar sold 26,103 shares on May 21 at an average price of $69.44, generating about $1.81 million in proceeds. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Kumar’s direct holdings fell by 9.69%.
- This was part of a broader pattern of insider selling: Kumar also sold 40,000 shares each on March 12, April 9, and May 7, with each transaction worth between roughly $2.7 million and $3.0 million.
- The company’s latest earnings beat revenue expectations but missed on EPS, reporting a loss of $0.84 per share versus the expected $0.70 loss, while revenue rose 66.8% year over year to $194.52 million. Analysts remain mostly positive, with a consensus Moderate Buy rating and an average price target of $88.90.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 26,103 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $69.44, for a total value of $1,812,592.32. Following the completion of the transaction, the chief executive officer directly owned 243,327 shares in the company, valued at $16,896,626.88. This trade represents a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Kumar also recently made the following trade(s):
- On Thursday, May 7th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00.
- On Thursday, April 9th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The shares were 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 shares were sold at an average price of $68.73, for a total value of $2,749,200.00.
BridgeBio Pharma Stock Down 2.0%
Shares of BridgeBio Pharma stock opened at $67.73 on Wednesday. The stock's fifty day moving average is $71.29 and its two-hundred day moving average is $72.02. The company has a market capitalization of $13.27 billion, a PE ratio of -18.11 and a beta of 1.02. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. The firm's revenue was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.88) earnings per share. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages recently issued reports on BBIO. Mizuho reiterated an "outperform" rating and issued a $106.00 price target on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Morgan Stanley boosted their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Wells Fargo & Company increased their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Oppenheimer cut their price target on BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Finally, Barclays restated an "overweight" rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.90.
Check Out Our Latest Stock Report on BridgeBio Pharma
Hedge Funds Weigh In On BridgeBio Pharma
Several institutional investors have recently bought and sold shares of BBIO. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $35,000. First Trust Advisors LP boosted its position in BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company's stock valued at $11,386,000 after acquiring an additional 175,918 shares in the last quarter. Baird Financial Group Inc. boosted its position in BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company's stock valued at $1,816,000 after acquiring an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in BridgeBio Pharma during the 2nd quarter valued at $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BridgeBio Pharma by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company's stock valued at $4,132,000 after acquiring an additional 2,206 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
