Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) Director Sells 30,000 Shares of Stock

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

BridgeBio Pharma Trading Down 1.6 %

NASDAQ BBIO traded down $0.55 on Thursday, hitting $34.07. 2,415,056 shares of the stock traded hands, compared to its average volume of 2,205,821. The stock has a 50-day moving average of $34.19 and a 200 day moving average of $29.43. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47. The company has a market capitalization of $6.48 billion, a P/E ratio of -11.95 and a beta of 1.07.

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

Analyst Upgrades and Downgrades

Several research firms have commented on BBIO. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Scotiabank boosted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Evercore ISI upped their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $52.64.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently modified their holdings of BBIO. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock worth $32,711,000 after purchasing an additional 95,605 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of BridgeBio Pharma by 11.7% in the third quarter. Rockefeller Capital Management L.P. now owns 41,259 shares of the company’s stock worth $1,050,000 after purchasing an additional 4,317 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares in the last quarter. Melqart Asset Management UK Ltd lifted its holdings in BridgeBio Pharma by 31.0% in the third quarter. Melqart Asset Management UK Ltd now owns 403,485 shares of the company’s stock worth $10,273,000 after purchasing an additional 95,574 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in BridgeBio Pharma during the 3rd quarter valued at about $1,286,000. Institutional investors own 99.85% of the company’s stock.

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.