Key Points
- BridgeBio Pharma director Andrea Ellis sold 17,167 shares on July 9 at an average price of $84.00, generating about $1.44 million. The sale cut her stake by 43.19%, leaving 22,579 shares.
- The transaction was disclosed in an SEC filing and was carried out under a pre-arranged Rule 10b5-1 trading plan, a setup often used for planned insider sales.
- BridgeBio stock recently traded around $83.08, near its 52-week high of $93.42, while analysts currently rate the company Moderate Buy with an average target price of $94.63.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the sale, the director owned 22,579 shares in the company, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BridgeBio Pharma Price Performance
BBIO stock opened at $83.08 on Tuesday. The company has a fifty day moving average price of $70.00 and a two-hundred day moving average price of $72.14. BridgeBio Pharma, Inc. has a one year low of $42.09 and a one year high of $93.42. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of -22.21 and a beta of 0.95.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released 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 $194.51 million for the quarter, compared to analysts' expectations of $178.07 million. BridgeBio Pharma's revenue was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.88) EPS. Research analysts anticipate that BridgeBio Pharma, Inc. will post -2.3 EPS for the current fiscal year.
Hedge Funds Weigh In On BridgeBio Pharma
Hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its position in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Global Retirement Partners LLC raised its position in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in BridgeBio Pharma during the fourth quarter valued at approximately $41,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on BBIO. Weiss Ratings reiterated a "sell (d)" rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an "outperform" rating and a $100.00 price objective for the company. Citigroup started coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They set a "neutral" rating and a $82.00 price objective for the company. Raymond James Financial downgraded BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley increased their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $94.63.
Check Out Our Latest Research Report on BBIO
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.
Featured Stories
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].
