Profund Advisors LLC Cuts Position in BridgeBio Pharma, Inc. $BBIO

Profund Advisors LLC cut its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,228 shares of the company’s stock after selling 7,774 shares during the quarter. Profund Advisors LLC’s holdings in BridgeBio Pharma were worth $1,778,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BridgeBio Pharma in the second quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. First Horizon Corp bought a new position in BridgeBio Pharma in the third quarter worth $36,000. AlphaQuest LLC increased its stake in shares of BridgeBio Pharma by 254.3% in the 3rd quarter. AlphaQuest LLC now owns 815 shares of the company’s stock worth $42,000 after acquiring an additional 585 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after purchasing an additional 227 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 16,934 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.46, for a total value of $1,125,433.64. Following the sale, the chief financial officer owned 382,830 shares in the company, valued at $25,442,881.80. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hannah Valantine sold 25,484 shares of BridgeBio Pharma stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total transaction of $1,683,727.88. Following the sale, the director owned 7,465 shares of the company’s stock, valued at $493,212.55. The trade was a 77.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 286,184 shares of company stock worth $19,840,799 over the last ninety days. Corporate insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BBIO shares. Evercore reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Leerink Partners raised their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of BridgeBio Pharma in a research report on Monday, November 3rd. The Goldman Sachs Group increased their target price on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.05.

BridgeBio Pharma Stock Up 6.2%

Shares of BBIO opened at $72.29 on Tuesday. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $81.32. The business has a fifty day moving average of $75.54 and a 200 day moving average of $62.53. The company has a market cap of $13.93 billion, a PE ratio of -17.29 and a beta of 1.13.

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.