Key Points
- CEO Neil Kumar sold 34,980 BridgeBio Pharma shares at an average price of $82.53, generating approximately $2.89 million. The transaction, conducted under a Rule 10b5-1 plan, reduced his direct ownership by 12.57% to 243,327 shares.
- BridgeBio reported quarterly revenue of $243.68 million, up 120.4% year over year, but its loss of $0.78 per share missed analysts’ estimate of a $0.58 loss.
- Analysts remain broadly positive, with 20 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $100.79 versus a recent price near $82.94.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total value of $840,300.00. Following the sale, the chief executive officer owned 505,686 shares of the company's stock, valued at approximately $42,492,794.58. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Kumar also recently made the following trade(s):
- On Tuesday, August 18th, Neil Kumar sold 34,980 shares of BridgeBio Pharma stock. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40.
- On Thursday, June 4th, Neil Kumar sold 40,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00.
BridgeBio Pharma Trading Down 1.2%
NASDAQ:BBIO opened at $82.94 on Friday. The stock has a 50 day simple moving average of $78.55 and a 200 day simple moving average of $73.26. The stock has a market cap of $16.21 billion, a P/E ratio of -23.23 and a beta of 0.96. BridgeBio Pharma, Inc. has a 1-year low of $46.81 and a 1-year high of $93.42.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million during the quarter, compared to analysts' expectations of $220.91 million. BridgeBio Pharma's quarterly revenue was up 120.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.95) earnings per share. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.
Analysts Set New Price Targets
Several research firms recently commented on BBIO. Morgan Stanley decreased their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Mizuho decreased their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 16th. Bank of America raised their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Citigroup lifted their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $100.79.
Get Our Latest Stock Analysis on BBIO
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Jupiter Topco LLC bought a new stake in BridgeBio Pharma during the second quarter worth about $1,050,762,000. Janus Henderson Group PLC grew its stake in BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company's stock worth $978,608,000 after buying an additional 2,178,556 shares in the last quarter. Farallon Capital Management LLC increased its holdings in BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company's stock valued at $688,292,000 after buying an additional 806,463 shares during the period. Invesco Ltd. increased its holdings in BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company's stock valued at $369,547,000 after buying an additional 902,648 shares during the period. Finally, Geode Capital Management LLC increased its holdings in BridgeBio Pharma by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company's stock valued at $344,689,000 after buying an additional 502,582 shares during the period. 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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