Eventide Asset Management LLC Decreases Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Eventide Asset Management LLC trimmed its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 38.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 362,130 shares of the company’s stock after selling 222,166 shares during the quarter. Eventide Asset Management LLC’s holdings in BridgeBio Pharma were worth $27,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BBIO. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth approximately $35,000. First Trust Advisors LP grew its position in shares of BridgeBio Pharma by 200.4% in the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after buying an additional 175,918 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of BridgeBio Pharma by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after buying an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of BridgeBio Pharma by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after buying an additional 2,206 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BBIO. Morgan Stanley lifted their price objective on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. William Blair began coverage on BridgeBio Pharma in a research report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Finally, Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $89.59.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the transaction, the chief accounting officer owned 134,115 shares of the company’s stock, valued at $9,599,951.70. The trade was a 1.47% 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. Insiders have sold a total of 171,754 shares of company stock worth $11,914,859 over the last three months. 14.23% of the stock is owned by corporate insiders.

BridgeBio Pharma Stock Down 1.1%

NASDAQ BBIO opened at $66.80 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $38.57 and a twelve month high of $84.94. The firm has a market capitalization of $13.08 billion, a PE ratio of -17.86 and a beta of 0.97. The stock’s 50 day moving average is $70.22 and its 200 day moving average is $72.11.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the previous year, the company earned ($0.88) EPS. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

About BridgeBio Pharma

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.