Key Points
- BridgeBio Pharma CEO Neil Kumar sold 40,000 shares on June 4 at an average price of $67.46, for proceeds of about $2.7 million. The sale reduced his ownership by 6.95% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Kumar has also sold shares several times in recent months, including transactions on May 21, May 7, April 9, and March 12. The repeated sales may signal ongoing insider monetization, though they were all disclosed through SEC filings.
- BridgeBio stock was trading around $67.37, near its 50-day and 200-day moving averages, while the company recently reported better-than-expected revenue but a wider-than-expected quarterly loss. Analysts remain mostly positive overall, with a consensus rating of Moderate Buy.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer owned 535,686 shares of the company's stock, valued at approximately $36,137,377.56. This trade represents a 6.95% 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. 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 21st, Neil Kumar sold 26,103 shares of BridgeBio Pharma stock. The shares were sold at an average price of $69.44, for a total value of $1,812,592.32.
- 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 Trading Down 0.4%
Shares of BridgeBio Pharma stock opened at $67.37 on Tuesday. The firm has a market cap of $13.20 billion, a P/E ratio of -18.01 and a beta of 0.98. BridgeBio Pharma, Inc. has a 12 month low of $38.57 and a 12 month high of $84.94. The stock's fifty day moving average price is $70.59 and its 200-day moving average price is $72.12.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. The company's revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.88) EPS. Analysts forecast that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.
Wall Street Analyst Weigh In
BBIO has been the topic of several research reports. Raymond James Financial lowered BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Morgan Stanley boosted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Truist Financial boosted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Mizuho reissued an "outperform" rating and issued a $106.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Finally, William Blair started coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They issued an "outperform" rating for the company. Twenty-three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and a consensus price target of $89.59.
Check Out Our Latest Analysis on BridgeBio Pharma
Hedge Funds Weigh In On BridgeBio Pharma
Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma in the third quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma in the third quarter worth about $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter worth about $35,000. Huntington National Bank raised its holdings in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company's stock worth $39,000 after purchasing an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after purchasing an additional 245 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.
About BridgeBio Pharma
(
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
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