WCM Investment Management LLC Trims Position in BridgeBio Pharma, Inc. $BBIO

WCM Investment Management LLC trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,983 shares of the company’s stock after selling 6,605 shares during the period. WCM Investment Management LLC owned approximately 0.09% of BridgeBio Pharma worth $11,651,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

BBIO has been the subject of several analyst reports. Morgan Stanley boosted their price objective on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Citigroup raised their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. HC Wainwright lifted their price target on BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, Mizuho lowered their price objective on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $95.21.

BridgeBio Pharma Stock Down 0.8%

BBIO stock opened at $80.76 on Tuesday. The company’s 50-day simple moving average is $71.46 and its 200-day simple moving average is $72.33. BridgeBio Pharma, Inc. has a 52-week low of $42.09 and a 52-week high of $93.42. The firm has a market cap of $15.82 billion, a P/E ratio of -21.59 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) EPS. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director directly owned 8,383 shares in the company, valued at $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the transaction, the director owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% 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 sold 432,117 shares of company stock valued at $32,633,740 in the last 90 days. Corporate insiders own 14.23% of the company’s stock.

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.