Bullish indicating open at $55-$60, IPO prices at $37
PALO ALTO, CA—Neil Kumar, the Chief Executive Officer of BridgeBio Pharma, Inc. (NASDAQ:BBIO), has recently executed a series of stock transactions, including a significant sale of company shares. The transaction comes as BridgeBio’s stock trades near its 52-week high, with InvestingPro data showing a remarkable 15% gain in the past week. According to a recent SEC filing, Kumar sold a total of 31,543 shares on February 19, 2025, at prices ranging from $36.14 to $36.56 per share. This transaction amounted to a total value of approximately $1.14 million. The sale occurs as BridgeBio, currently valued at $6.85 billion, appears fairly valued according to InvestingPro analysis.
In addition to the sales, Kumar also engaged in other transactions involving common stock. On February 16, 2025, he acquired 55,539 shares through the exercise of Restricted Stock Units (RSUs). However, 23,996 of these shares were withheld by the company to cover tax obligations, valued at approximately $837,460 based on a price of $34.90 per share.
Following these transactions, Kumar’s direct ownership now stands at 211,718 shares of BridgeBio Pharma’s common stock. Additionally, he holds indirect ownership of shares through two trusts, the Kumar Haldea Revocable Trust and the Kumar Haldea Family Irrevocable Trust, with holdings of 5,098,447 and 995,686 shares, respectively.
These transactions were conducted as part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a set time to avoid any suspicion of insider trading. While the company maintains strong liquidity with a current ratio of 3.19, InvestingPro data reveals analysts expect 22.5% revenue growth this year. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, BridgeBio Pharma has reported significant developments, particularly in the commercial success of its drug Attruby and the progression of its late-stage pipeline programs. Since receiving FDA approval, Attruby has achieved a robust uptake with 430 prescriptions written by 248 unique healthcare providers, reflecting strong demand in the medical community. Piper Sandler has maintained its Overweight rating and a $46 price target for BridgeBio, citing promising survey results from cardiologists and projected sales of Attruby reaching $205 million by 2025. Meanwhile, Scotiabank (TSX:BNS) has increased its price target for BridgeBio to $49, highlighting the European Commission’s approval of acoramidis, marketed as Beyonttra, for treating ATTR-CM.
BridgeBio has also completed enrollment for three major Phase 3 clinical trials, anticipating results in the second half of 2025. These trials include treatments for limb-girdle muscular dystrophy type 2I/R9, autosomal dominant hypocalcemia type 1, and achondroplasia. Additionally, BridgeBio is financially well-positioned, reporting $406 million in cash and securing $500 million from a royalty facility following Attruby’s FDA approval. Piper Sandler’s analysis suggests that Attruby’s risk-adjusted sales in the U.S. could reach $115 million in 2025, surpassing consensus estimates.
The approval of Beyonttra in Europe marks a significant milestone for BridgeBio and its partner Bayer (OTC:BAYRY), expanding the potential market for acoramidis. Investors are closely watching the implications of Medicare coverage differences for ATTR-CM treatments, which could influence market adoption. These developments indicate a positive outlook for BridgeBio’s growth prospects and its ability to meet significant milestones by 2025.
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