BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Brian C. Stephenson Sells 68,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

BridgeBio Pharma Stock Performance

BBIO opened at $35.97 on Friday. The stock has a market capitalization of $6.80 billion, a PE ratio of -14.93 and a beta of 1.05. The stock’s 50 day moving average price is $29.64 and its 200-day moving average price is $27.10. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $41.04.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Oppenheimer began coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BBIO. Values First Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the third quarter valued at about $57,000. CWM LLC boosted its position in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after acquiring an additional 1,645 shares during the period. Amalgamated Bank grew its holdings in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of BridgeBio Pharma by 17.7% in the 3rd 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 in the last quarter. 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.