Exome Asset Management LLC Cuts Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Exome Asset Management LLC lowered its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 16.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 67,492 shares of the company’s stock after selling 13,231 shares during the quarter. BridgeBio Pharma makes up approximately 2.6% of Exome Asset Management LLC’s portfolio, making the stock its 7th largest holding. Exome Asset Management LLC’s holdings in BridgeBio Pharma were worth $5,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in BBIO. Commonwealth Equity Services LLC increased its holdings in shares of BridgeBio Pharma by 4.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock valued at $396,000 after acquiring an additional 244 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in BridgeBio Pharma by 0.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock worth $3,970,000 after purchasing an additional 246 shares during the period. CWM LLC boosted its position in BridgeBio Pharma by 4.3% during the fourth quarter. CWM LLC now owns 6,444 shares of the company’s stock worth $493,000 after purchasing an additional 265 shares during the period. Finally, Xponance LLC grew its holdings in BridgeBio Pharma by 2.2% during the fourth quarter. Xponance LLC now owns 12,536 shares of the company’s stock valued at $959,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares in the company, valued at $36,137,377.56. This trade represents a 6.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the transaction, the director owned 8,383 shares in the company, valued at approximately $742,230.82. The trade was a 94.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 432,117 shares of company stock worth $32,633,740. 14.23% of the stock is currently owned by insiders.

BridgeBio Pharma Trading Up 0.1%

BBIO opened at $84.12 on Tuesday. BridgeBio Pharma, Inc. has a 1-year low of $42.09 and a 1-year high of $93.42. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of -22.49 and a beta of 0.95. The business has a 50 day moving average of $73.07 and a 200-day moving average of $72.59.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 firm had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter last year, the firm posted ($0.88) EPS. The company’s revenue was up 66.8% compared to the same quarter last year. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Truist Financial raised their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price for the company. Finally, Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target 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.