Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 27,389 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $0.50 during trading hours on Wednesday, hitting $23.04. 1,395,889 shares of the company’s stock traded hands, compared to its average volume of 1,852,762. The firm has a market capitalization of $4.35 billion, a P/E ratio of -9.35 and a beta of 1.09. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The business has a fifty day moving average price of $25.18 and a 200-day moving average price of $26.33.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC boosted its holdings in BridgeBio Pharma by 1.1% in the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after acquiring an additional 555 shares in the last quarter. American International Group Inc. grew its holdings in shares of BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the period. Bfsg LLC lifted its stake in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after buying an additional 962 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BBIO shares. Piper Sandler initiated coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Scotiabank lifted their target price on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.