F m Investments LLC Decreases Stock Position in BridgeBio Pharma, Inc. $BBIO

F m Investments LLC trimmed its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,064 shares of the company’s stock after selling 22,254 shares during the quarter. F m Investments LLC’s holdings in BridgeBio Pharma were worth $3,500,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC raised its position in shares of BridgeBio Pharma by 49.2% in the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock valued at $1,044,000 after buying an additional 7,970 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in BridgeBio Pharma during the 1st quarter valued at about $1,429,000. Intech Investment Management LLC raised its holdings in BridgeBio Pharma by 12.0% in the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock valued at $2,542,000 after acquiring an additional 7,877 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in BridgeBio Pharma by 15.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,335 shares of the company’s stock worth $317,000 after purchasing an additional 971 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $424,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $71.61 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $25.34 and a 1-year high of $72.28. The firm has a 50-day simple moving average of $59.75 and a two-hundred day simple moving average of $49.77. The stock has a market cap of $13.80 billion, a PE ratio of -17.13 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. During the same quarter last year, the firm posted ($0.86) earnings per share. The firm’s revenue for the quarter was up 4318.0% compared to the same quarter last year. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, Director Andrew Lo sold 55,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the transaction, the director owned 50,583 shares in the company, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.65, for a total transaction of $666,500.00. Following the sale, the director directly owned 11,589 shares in the company, valued at approximately $772,406.85. The trade was a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 629,204 shares of company stock worth $39,424,400. 18.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BBIO has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, October 8th. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $71.00 target price (up from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Twenty equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $74.37.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.