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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) 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 transaction of $1,021,500.00. Following the completion of the transaction, the director now owns 12,000 shares of the company's stock, valued at $408,600. This trade represents a 71.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

BridgeBio Pharma Stock Down 1.7 %

BBIO stock traded down $0.53 during midday trading on Tuesday, reaching $30.14. The company had a trading volume of 3,539,609 shares, compared to its average volume of 2,239,915. The stock has a 50 day moving average price of $33.64 and a 200 day moving average price of $29.60. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The firm has a market capitalization of $5.73 billion, a PE ratio of -10.58 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) 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 company had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on BBIO. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Scotiabank lifted their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Finally, Redburn Atlantic assumed coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.64.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in BridgeBio Pharma by 0.5% in the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock valued at $7,610,000 after purchasing an additional 1,008 shares during the last quarter. GAMMA Investing LLC boosted its position in BridgeBio Pharma by 5,811.5% during the 1st quarter. GAMMA Investing LLC now owns 31,804 shares of the company's stock worth $1,099,000 after acquiring an additional 31,266 shares during the period. California State Teachers Retirement System grew its stake in shares of BridgeBio Pharma by 6.8% in the fourth quarter. California State Teachers Retirement System now owns 115,655 shares of the company's stock worth $3,174,000 after purchasing an additional 7,388 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at $5,076,000. Finally, Mackenzie Financial Corp raised its stake in shares of BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock valued at $261,000 after purchasing an additional 592 shares in the last quarter. 99.85% of the stock is currently owned by 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.