BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells $613,787.49 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

BridgeBio Pharma Stock Up 2.2 %

Shares of NASDAQ BBIO opened at $23.04 on Thursday. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The company has a 50-day moving average of $25.09 and a two-hundred day moving average of $26.31.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBIO. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Evercore ISI decreased their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research report on Friday, October 25th. Bank of America reaffirmed a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBIO. Price T Rowe Associates Inc. MD raised its position in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after acquiring an additional 145,594 shares during the last quarter. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the last quarter. First Turn Management LLC acquired a new position in BridgeBio Pharma during the 3rd quarter valued at about $10,178,000. Comerica Bank boosted its stake in shares of BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after purchasing an additional 37,277 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its position in shares of BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.