Glenmede Trust Co. NA Has $1.01 Million Stock Position in BridgeBio Pharma, Inc. $BBIO

Glenmede Trust Co. NA lowered its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 35.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,656 shares of the company’s stock after selling 7,511 shares during the period. Glenmede Trust Co. NA’s holdings in BridgeBio Pharma were worth $1,014,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BBIO. Global Retirement Partners LLC boosted its stake in shares of BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the period. Farther Finance Advisors LLC boosted its position in BridgeBio Pharma by 91.4% during the fourth 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 period. Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma in the fourth quarter valued at $41,000. Cary Street Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after purchasing an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the transaction, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Andrea Ellis sold 17,167 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director directly owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% 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. In the last 90 days, insiders have sold 392,117 shares of company stock worth $29,934,700. 14.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BBIO has been the subject of several research analyst reports. Mizuho reduced their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Morgan Stanley raised their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, Truist Financial upped their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nineteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

BridgeBio Pharma Stock Performance

BBIO opened at $82.80 on Friday. The firm has a market cap of $16.19 billion, a P/E ratio of -22.14 and a beta of 0.96. BridgeBio Pharma, Inc. has a 52-week low of $44.10 and a 52-week high of $93.42. The business’s fifty day moving average is $75.32 and its 200-day moving average is $72.92.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) 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 analyst estimates of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) earnings per share. On average, research analysts predict that BridgeBio Pharma, Inc. will post -2.31 earnings per share for the current fiscal year.

BridgeBio Pharma 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.