BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis Sells 30,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Andrea Ellis sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $408,600. This trade represents a 71.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded down $0.55 during midday trading on Thursday, hitting $34.07. 2,415,056 shares of the stock were exchanged, compared to its average volume of 2,205,821. The company has a market capitalization of $6.48 billion, a PE ratio of -11.95 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47. The business’s fifty day simple moving average is $34.19 and its two-hundred day simple moving average is $29.43.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Institutional Trading of BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the business. Farallon Capital Management LLC lifted its stake in shares of BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Woodline Partners LP boosted its stake in shares of BridgeBio Pharma by 132.9% during the 4th quarter. Woodline Partners LP now owns 2,211,521 shares of the company’s stock worth $60,684,000 after acquiring an additional 1,261,772 shares in the last quarter. Norges Bank bought a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $29,237,000. Alyeska Investment Group L.P. acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $25,805,000. Finally, Capital Research Global Investors boosted its position in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. 99.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on BBIO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. Finally, Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday. They issued a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.64.

About BridgeBio Pharma

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.