W.G. Shaheen & Associates DBA Whitney & Co Lowers Holdings in BridgeBio Pharma, Inc. $BBIO

W.G. Shaheen & Associates DBA Whitney & Co decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 59.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,050 shares of the company’s stock after selling 7,300 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in BridgeBio Pharma were worth $375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after purchasing an additional 2,259,378 shares during the period. Farallon Capital Management LLC raised its holdings in BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after buying an additional 806,463 shares during the period. Invesco Ltd. raised its holdings in BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock valued at $369,547,000 after buying an additional 902,648 shares during the period. Geode Capital Management LLC boosted its stake in BridgeBio Pharma by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after buying an additional 502,582 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of BridgeBio Pharma by 144.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after acquiring an additional 2,261,181 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 1.3%

Shares of BBIO opened at $81.38 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42. The firm’s 50 day moving average price is $71.13 and its 200 day moving average price is $72.32. The company has a market cap of $15.94 billion, a P/E ratio of -21.76 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last released its 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 business had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the previous year, the business posted ($0.88) EPS. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBIO. Citigroup boosted their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday. HC Wainwright lifted their target price on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 13th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Truist Financial raised their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group began coverage on BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective on the stock. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $95.21.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the sale, the director directly owned 22,579 shares in the company, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of BridgeBio Pharma stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $68.57, for a total value of $150,579.72. Following the completion of the transaction, the director owned 9,259 shares of the company’s stock, valued at approximately $634,889.63. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 432,117 shares of company stock valued at $32,633,740. Insiders own 14.23% of the company’s stock.

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.