HighTower Advisors LLC Sells 138,407 Shares of BridgeBio Pharma, Inc. $BBIO

HighTower Advisors LLC lessened its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 60.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 91,986 shares of the company’s stock after selling 138,407 shares during the period. HighTower Advisors LLC’s holdings in BridgeBio Pharma were worth $7,036,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BBIO. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $35,000. First Trust Advisors LP boosted its holdings in shares of BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after buying an additional 175,918 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after buying an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BridgeBio Pharma by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after buying an additional 2,206 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $67.73 on Wednesday. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of -18.11 and a beta of 1.02. The firm’s 50-day moving average is $71.29 and its 200 day moving average is $72.02. BridgeBio Pharma, Inc. has a 1 year low of $31.77 and a 1 year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) EPS. On average, equities analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price on the stock. Leerink Partners restated an “outperform” rating and set a $98.00 target price on shares of BridgeBio Pharma in a report on Thursday, March 12th. Raymond James Financial reiterated a “market perform” rating on shares of BridgeBio Pharma in a research note on Tuesday. Finally, Oppenheimer dropped their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Twenty-two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.90.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the transaction, the director owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the transaction, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 236,675 shares of company stock worth $16,177,085 over the last quarter. 14.23% of the stock is owned by insiders.

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.