Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Sells 8,500 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Brian C. Stephenson sold 8,500 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total value of $282,115.00. Following the transaction, the chief financial officer now owns 102,464 shares of the company’s stock, valued at $3,400,780.16. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

BridgeBio Pharma Stock Performance

Shares of BBIO stock traded up $0.85 on Thursday, reaching $34.30. 4,057,719 shares of the company were exchanged, compared to its average volume of 3,190,594. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The business has a 50-day moving average price of $32.35 and a 200 day moving average price of $28.17. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -12.04 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data 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 the consensus estimate of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Institutional Trading of BridgeBio Pharma

Several large investors have recently made changes to their positions in BBIO. Ironwood Investment Management LLC lifted its holdings in BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of BridgeBio Pharma by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock worth $404,000 after buying an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after buying an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after acquiring an additional 801 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BBIO. Citigroup raised their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Evercore ISI raised their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Scotiabank upped their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

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.