Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CEO Sells 31,543 Shares

On February 19th, BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) saw its Chief Executive Officer, Neil Kumar, engage in a significant stock transaction. In this transaction, he sold 31,543 shares of the company’s stock at an average price of $36.14 per share. The total value of this sale amounted to approximately $1,139,964.02. Following the sale, Kumar now holds 211,718 shares in the company, which are valued at around $7,651,488.52. This sale reflects a decrease in his ownership by about 12.97%. All details of the transaction were officially disclosed in a filing with the Securities and Exchange Commission (SEC), which can be found through their official website.

Recent Activity of Other Executives

Additionally, on the same date, BridgeBio’s Chief Financial Officer, Brian C. Stephenson, sold 4,148 shares of the firm’s stock at an average price of $36.16. This transaction totaled approximately $149,991.68. Following this sale, Stephenson’s ownership decreased by 3.89%, leaving him with 102,464 shares valued at about $3,705,098.24. Like Kumar’s sale, this transaction was also reported to the SEC.

BridgeBio Pharma Stock Performance

On Thursday, the stock of BridgeBio Pharma opened at $36.29. Over the past year, the share price has shown considerable volatility, ranging from a low of $21.62 to a high of $37.81. The stock has a fifty-day simple moving average of $31.53 and a two-hundred-day simple moving average of $27.79. With a market cap of $6.86 billion, the company has a price-to-earnings (PE) ratio of -15.06 and a beta of 1.07, indicating its sensitivity to market movements.

Institutional Investment Trends

Several institutional investors have recently adjusted their stakes in BridgeBio Pharma. Notably, Polar Asset Management Partners Inc. acquired a new position valued at $1,286,000 during the third quarter. First Turn Management LLC also bought a significant quantity of shares valued at approximately $10,178,000. Janus Henderson Group PLC increased its holdings by 11.7%, now owning 4,818,012 shares valued at $122,658,000 after buying an additional 505,481 shares. Other investors like Intech Investment Management LLC and Principal Financial Group Inc. have also raised their positions in the firm. Overall, institutional investors now own approximately 99.85% of the company’s stock, indicating a strong level of commitment from larger financial entities.

Analyst Ratings and Price Targets

Market analysts have varied opinions on the stock. Evercore ISI recently raised its price target from $45.00 to $50.00 while maintaining an "outperform" rating. Scotiabank also increased its target price from $48.00 to $49.00 and issued a "sector outperform" rating. Bank of America raised its price target to $45.00, reflecting its continued confidence in the stock’s potential. Meanwhile, HC Wainwright reiterated its "buy" rating and set a price target of $49.00. Currently, one analyst rates the stock as a hold while twelve recommend buying, leading to an average rating of "Moderate Buy" with a target price of $49.08 according to MarketBeat.com.

About BridgeBio Pharma

BridgeBio Pharma, Inc. is a commercial-stage biopharmaceutical company focused on discovering and developing transformative medicines aimed at treating patients with genetic diseases and cancers. Among its pipeline products is AG10, a next-generation oral small molecule designed for the treatment of TTR amyloidosis, currently in Phase 3 trials. Another product in development is low-dose infigratinib, which is being evaluated in a pivotal study for children with achondroplasia. The company also has BBP-631, an AAV5 gene transfer product candidate in early-stage clinical trials for congenital adrenal hyperplasia. BridgeBio aims to bring innovative therapies to patients driven by science and a commitment to transforming lives.

BridgeBio, Pharma, Insider