Intel stock spikes after report of possible US government stake
PALO ALTO, Calif.—Hannah Valantine, a director at BridgeBio Pharma Inc . (NASDAQ:BBIO), a $5.96 billion market cap biotech company, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company currently trades at a premium to its Fair Value. On March 6, Valantine sold 12,875 shares of BridgeBio Pharma common stock at an average price of approximately $32.58 per share, amounting to a total of $419,499. This sale was conducted under a pre-established Rule 10b5-1 sales plan. The transaction comes as the company maintains strong liquidity, with a healthy current ratio of 4.67 and impressive revenue growth of over 2,200% in the last twelve months.
In addition to the sale, Valantine exercised stock options to acquire 12,875 shares at a price of $16.75 per share, totaling $215,656. Following these transactions, Valantine holds 1,764 shares directly. She also has an indirect holding of 3,433 shares through her spouse.
These transactions reflect Valantine’s continued involvement with BridgeBio Pharma, where she has served on the board of directors. The stock option exercise and subsequent sale were part of a planned strategy outlined in her sales plan adopted in December 2024.
In other recent news, BridgeBio Pharma announced its intention to offer $500 million in convertible senior notes due 2031, with an option for an additional $75 million. The proceeds will be used to repay and terminate the existing Financing Agreement, which is expected to lower interest expenses and increase operational flexibility. Additionally, BridgeBio may use up to $50 million of the proceeds to repurchase shares of its common stock. Scotiabank (TSX:BNS) raised its price target for BridgeBio to $52, citing strong sales of Attruby, which exceeded expectations with 1,028 patient prescriptions and 516 unique prescribers. For the fourth quarter of 2024, BridgeBio reported net product revenues of $2.9 million, surpassing estimates and reflecting robust market performance. Cantor Fitzgerald maintained an Overweight rating on BridgeBio, with a price target of $95, highlighting the complexities of Medicare drug coverage impacting the company’s financial prospects. Meanwhile, Deep Track Capital, holding 14.34% of Dynavax (NASDAQ:DVAX) Technologies Corporation, nominated four candidates for the company’s board, advocating for strategic changes and improved shareholder representation. Deep Track criticized Dynavax’s recent financial decisions, particularly the issuance of $265 million in convertible debt, and called for a refreshed board to optimize the company’s potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.