WCM Investment Management LLC Cuts Stock Holdings in BridgeBio Pharma, Inc. $BBIO

WCM Investment Management LLC lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,983 shares of the company’s stock after selling 6,605 shares during the quarter. WCM Investment Management LLC’s holdings in BridgeBio Pharma were worth $11,651,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BBIO. Janus Henderson Group PLC increased its position in shares of BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after purchasing an additional 2,259,378 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after purchasing an additional 806,463 shares in the last quarter. Invesco Ltd. boosted its stake in BridgeBio Pharma by 23.0% during the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock worth $369,547,000 after purchasing an additional 902,648 shares during the last quarter. Geode Capital Management LLC boosted its stake in BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after purchasing an additional 502,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of BridgeBio Pharma by 144.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after buying an additional 2,261,181 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BBIO shares. Mizuho decreased 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 initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective for the company. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price on the stock. Finally, HC Wainwright boosted their target price on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $95.21.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,196 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the transaction, the director directly owned 9,259 shares in the company, valued at approximately $634,889.63. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the transaction, the chief financial officer owned 359,194 shares of the company’s stock, valued at $23,376,345.52. The trade was a 3.66% 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 three months, insiders have sold 432,117 shares of company stock worth $32,633,740. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Trading Down 0.8%

Shares of BBIO stock opened at $80.76 on Tuesday. The company’s 50-day moving average price is $71.46 and its 200-day moving average price is $72.33. The stock has a market cap of $15.82 billion, a price-to-earnings ratio of -21.59 and a beta of 0.95. BridgeBio Pharma, Inc. has a twelve month low of $42.09 and a twelve month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the prior year, the firm posted ($0.88) EPS. The company’s revenue was up 66.8% compared to the same quarter last year. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -2.29 EPS for the current year.

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.