BridgeBio Pharma, Inc. $BBIO Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co cut its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 59.1% during the first quarter, HoldingsChannel reports. The firm owned 5,050 shares of the company’s stock after selling 7,300 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in BridgeBio Pharma were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BBIO. Brooklands Fund Management Ltd acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth $210,348,000. Price T Rowe Associates Inc. MD raised its stake in BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after buying an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after buying an additional 2,259,378 shares during the last quarter. Norges Bank purchased a new stake in BridgeBio Pharma during the 4th quarter worth about $116,802,000. Finally, Wellington Management Group LLP increased its holdings in shares of BridgeBio Pharma by 130.4% in the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after acquiring an additional 1,329,537 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Thomas Trimarchi sold 13,651 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. This trade represents a 94.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 432,117 shares of company stock valued at $32,633,740 in the last 90 days. Company insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $81.38 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42. The company has a market capitalization of $15.94 billion, a P/E ratio of -21.76 and a beta of 0.95. The stock has a 50-day simple moving average of $71.13 and a 200-day simple moving average of $72.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.88) earnings per share. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Mizuho dropped their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective on the stock. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Citigroup boosted their price objective on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.21.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.