Nan Fung Trinity HK Ltd. Sells 75,758 Shares of BridgeBio Pharma, Inc. $BBIO

Nan Fung Trinity HK Ltd. decreased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 25.7% in the third quarter, Holdings Channel.com reports. The firm owned 219,215 shares of the company’s stock after selling 75,758 shares during the period. BridgeBio Pharma makes up approximately 1.4% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 28th biggest position. Nan Fung Trinity HK Ltd.’s holdings in BridgeBio Pharma were worth $14,424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC lifted its stake in BridgeBio Pharma by 139.4% in the first quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock worth $2,431,000 after purchasing an additional 19,043 shares during the last quarter. Assetmark Inc. boosted its position in BridgeBio Pharma by 423.7% during the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock valued at $1,544,000 after buying an additional 16,820 shares during the period. EFG International AG purchased a new stake in BridgeBio Pharma during the second quarter valued at about $6,117,000. Corient Private Wealth LP bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $1,783,000. Finally, Squarepoint Ops LLC grew its stake in shares of BridgeBio Pharma by 114.2% during the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock valued at $88,760,000 after buying an additional 635,408 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Activity

In other news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $72.85, for a total transaction of $145,700.00. Following the completion of the sale, the chief accounting officer directly owned 120,687 shares in the company, valued at approximately $8,792,047.95. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 34,980 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the sale, the chief executive officer owned 243,327 shares of the company’s stock, valued at approximately $20,081,777.31. This represents a 12.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 56,980 shares of company stock valued at $4,563,699. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Trading Down 1.7%

NASDAQ:BBIO opened at $78.17 on Friday. The company has a fifty day moving average of $69.92 and a 200 day moving average of $72.79. BridgeBio Pharma, Inc. has a 52 week low of $62.50 and a 52 week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to the consensus estimate of $293.47 million. During the same period last year, the business earned ($0.95) EPS. BridgeBio Pharma’s revenue was up 192.6% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.55 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. HC Wainwright restated a “buy” rating on shares of BridgeBio Pharma in a report on Tuesday, October 6th. Cantor Fitzgerald restated an “overweight” rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Truist Financial raised their price target on BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.26.

BridgeBio Pharma Profile

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas. Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.