Covestor Ltd Sells 1,811 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Covestor Ltd lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,968 shares of the company’s stock after selling 1,811 shares during the period. BridgeBio Pharma accounts for about 0.4% of Covestor Ltd’s investment portfolio, making the stock its 26th biggest holding. Covestor Ltd’s holdings in BridgeBio Pharma were worth $576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $338,000. Barclays PLC lifted its stake in shares of BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after acquiring an additional 131,743 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after acquiring an additional 123,540 shares during the period. Exome Asset Management LLC grew its position in BridgeBio Pharma by 167.4% in the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after acquiring an additional 132,093 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in BridgeBio Pharma by 1.8% in the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after purchasing an additional 19,978 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BBIO shares. JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Evercore ISI boosted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.64.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $1.33 during trading on Thursday, hitting $31.55. 200,815 shares of the company were exchanged, compared to its average volume of 2,250,508. The stock has a market capitalization of $6.00 billion, a P/E ratio of -11.07 and a beta of 1.08. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47. The firm’s 50 day moving average price is $33.55 and its 200-day moving average price is $29.67.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. As a group, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrea Ellis sold 30,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $408,600. This represents a 71.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 75,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the sale, the chief executive officer now owns 4,948,447 shares in the company, valued at approximately $182,449,240.89. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,684,739 shares of company stock valued at $326,958,651. 24.66% of the stock is currently owned by corporate insiders.

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.