Key Points
- CEO Neil Kumar sold 10,000 BridgeBio Pharma shares at an average price of $69.08, generating $690,800. The transaction was made under a pre-arranged Rule 10b5-1 plan, and Kumar retained 495,686 shares.
- BridgeBio’s stock opened at $66.58, with a 52-week range of $48.78 to $93.42 and a market capitalization of approximately $13.02 billion. The company recently reported stronger-than-expected revenue growth but missed quarterly EPS estimates.
- Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $102.61 versus the reported share price.
BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the completion of the sale, the chief executive officer directly owned 495,686 shares in the company, valued at $34,241,988.88. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Wednesday, August 19th, Neil Kumar sold 10,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $84.03, for a total value of $840,300.00.
- 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.
BridgeBio Pharma Stock Performance
Shares of BBIO stock opened at $66.58 on Tuesday. BridgeBio Pharma, Inc. has a fifty-two week low of $48.78 and a fifty-two week high of $93.42. The stock's fifty day moving average is $78.98 and its two-hundred day moving average is $73.79. The firm has a market capitalization of $13.02 billion, a P/E ratio of -18.65 and a beta of 0.97.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. The firm's quarterly revenue was up 120.4% on a year-over-year basis. During the same period last year, the firm earned ($0.95) earnings per share. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.65 earnings per share for the current year.
Hedge Funds Weigh In On BridgeBio Pharma
Several large investors have recently modified their holdings of the business. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at about $28,000. Allworth Financial LP acquired a new position in BridgeBio Pharma in the second quarter valued at about $31,000. Cary Street Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 861.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock worth $43,000 after buying an additional 508 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in BridgeBio Pharma during the fourth quarter worth about $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma during the second quarter valued at about $44,000. Institutional investors and hedge funds own 99.85% of the company's stock.
Analysts Set New Price Targets
BBIO has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, September 10th. 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 research note on Tuesday, August 11th. Mizuho boosted their target price on BridgeBio Pharma from $96.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Piper Sandler upped their price target on BridgeBio Pharma from $111.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $100.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.61.
Check Out Our Latest Analysis on BBIO
BridgeBio Pharma Company Profile
(
Get Free Report)
BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.
BridgeBio's research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.
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