BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 5.5% Following Insider Selling

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s share price was down 5.5% on Monday following insider selling activity. The company traded as low as $32.48 and last traded at $32.33. Approximately 1,082,052 shares changed hands during trading, a decline of 61% from the average daily volume of 2,802,673 shares. The stock had previously closed at $34.21.

Specifically, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Brian C. Stephenson sold 68,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several equities analysts have weighed in on BBIO shares. Evercore ISI lifted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. HC Wainwright restated a "buy" rating and set a $49.00 target price on shares of BridgeBio Pharma in a research note on Monday, December 16th. Scotiabank increased their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 25th. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Finally, Leerink Partners cut their target price on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

BridgeBio Pharma Stock Down 2.6 %

The business's fifty day moving average is $30.54 and its two-hundred day moving average is $27.35. The stock has a market capitalization of $6.02 billion, a PE ratio of -13.22 and a beta of 1.07.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $57,000. CWM LLC boosted its holdings in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after purchasing an additional 1,964 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after purchasing an additional 1,645 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock valued at $135,000 after buying an additional 801 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.