BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Bellevue Group AG

Bellevue Group AG lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 61.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,800 shares of the company’s stock after selling 20,500 shares during the period. Bellevue Group AG’s holdings in BridgeBio Pharma were worth $396,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BBIO. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma in the first quarter valued at approximately $34,000. Quarry LP acquired a new stake in BridgeBio Pharma during the 4th quarter worth $50,000. Assetmark Inc. grew its position in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares during the last quarter. EntryPoint Capital LLC acquired a new position in BridgeBio Pharma in the first quarter valued at $117,000. Finally, Sargent Investment Group LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $213,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BridgeBio Pharma

In other news, Director Randal W. Scott sold 1,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $158,620. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI began coverage on BridgeBio Pharma in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. HC Wainwright reiterated a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, June 20th. Bank of America cut their price objective on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, UBS Group lowered their target price on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $48.73.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock traded down $0.98 during trading hours on Monday, hitting $26.07. The stock had a trading volume of 340,566 shares, compared to its average volume of 1,814,812. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -8.15 and a beta of 1.06. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The stock’s fifty day moving average is $27.00 and its two-hundred day moving average is $29.70.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The business had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.2 EPS for the current year.

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.