Key Points
- BridgeBio Pharma Director Jennifer Cook sold 90,240 shares on June 15 at an average price of $66.62, totaling about $6.0 million. After the sale, she retained 6,589 shares, a 93.2% reduction in her position.
- The transaction was disclosed in an SEC filing and was executed under a pre-arranged Rule 10b5-1 trading plan, which is commonly used for scheduled insider sales.
- BridgeBio shares were up 1.1% to $67.39, while analyst sentiment remains constructive: 22 analysts rate the stock a Buy, with a consensus target price of $91.05.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Jennifer Cook sold 90,240 shares of BridgeBio Pharma stock in a transaction on Monday, June 15th. The shares were sold at an average price of $66.62, for a total transaction of $6,011,788.80. Following the sale, the director directly owned 6,589 shares of the company's stock, valued at $438,959.18. This trade represents a 93.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BridgeBio Pharma Stock Up 1.1%
Shares of NASDAQ:BBIO opened at $67.39 on Thursday. The firm has a fifty day moving average of $69.89 and a two-hundred day moving average of $72.04. The firm has a market capitalization of $13.20 billion, a P/E ratio of -18.02 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12-month low of $39.65 and a 12-month high of $84.94.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. The firm's revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.88) earnings per share. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. Morgan Stanley lifted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Truist Financial lifted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $104.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Twenty-two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $91.05.
View Our Latest Report on BBIO
Institutional Investors Weigh In On BridgeBio Pharma
Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC lifted its stake in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after purchasing an additional 372 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in BridgeBio Pharma in the 4th quarter worth $41,000. Cary Street Partners Investment Advisory LLC raised its holdings in BridgeBio Pharma by 861.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock worth $43,000 after acquiring an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in BridgeBio Pharma in the 4th quarter worth $44,000. Institutional investors and hedge funds own 99.85% of the company's stock.
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.
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