BridgeBio Pharma, Inc. $BBIO Stock Sold by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. lessened its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 25.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219,215 shares of the company’s stock after selling 75,758 shares during the period. BridgeBio Pharma accounts for approximately 1.4% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 28th largest holding. Nan Fung Trinity HK Ltd. owned approximately 0.11% of BridgeBio Pharma worth $14,424,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Silvant Capital Management LLC purchased a new position in BridgeBio Pharma during the second quarter worth about $28,000. Allworth Financial LP bought a new position in BridgeBio Pharma in the 2nd quarter worth about $31,000. Root Financial Partners LLC bought a new position in BridgeBio Pharma in the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. raised its holdings in shares of BridgeBio Pharma by 55.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock valued at $29,000 after acquiring an additional 157 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at about $44,000. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BBIO. UBS Group reiterated a “buy” rating on shares of BridgeBio Pharma in a research report on Friday, October 30th. Weiss Ratings cut shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. HC Wainwright restated a “buy” rating on shares of BridgeBio Pharma in a research report on Tuesday, October 6th. Mizuho raised their target price on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Nineteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.26.

BridgeBio Pharma Trading Down 1.7%

Shares of NASDAQ:BBIO opened at $78.17 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $62.50 and a 52-week high of $93.42. The firm has a fifty day moving average of $69.92 and a 200 day moving average of $72.79.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to the consensus estimate of $293.47 million. During the same period in the prior year, the company earned ($0.95) EPS. The firm’s revenue was up 192.6% compared to the same quarter last year. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Neil Kumar sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the completion of the transaction, the chief executive officer directly owned 495,686 shares in the company, valued at approximately $34,241,988.88. This represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total value of $145,700.00. Following the completion of the transaction, the chief accounting officer owned 120,687 shares of the company’s stock, valued at $8,792,047.95. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 56,980 shares of company stock valued at $4,563,699. Corporate insiders own 14.23% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas. Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.