Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Sells 4,156 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BridgeBio Pharma Stock Performance

Shares of BBIO traded up $0.50 during midday trading on Wednesday, hitting $23.04. 1,395,889 shares of the stock were exchanged, compared to its average volume of 1,852,762. The firm has a market cap of $4.35 billion, a P/E ratio of -9.56 and a beta of 1.09. The stock has a fifty day simple moving average of $25.18 and a 200 day simple moving average of $26.33. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32.

Institutional Trading of BridgeBio Pharma

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares in the last quarter. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after acquiring an additional 127,853 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after purchasing an additional 123,540 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after purchasing an additional 1,111,975 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BBIO. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Scotiabank increased their price objective on BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Bank of America reaffirmed a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, Leerink Partners lowered their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.57.

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.