Affinity Asset Advisors LLC Has $6.48 Million Stock Position in BridgeBio Pharma, Inc. $BBIO

Affinity Asset Advisors LLC reduced its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 150,000 shares of the company’s stock after selling 150,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in BridgeBio Pharma were worth $6,477,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BBIO. Norges Bank acquired a new position in BridgeBio Pharma in the 2nd quarter worth approximately $84,488,000. Driehaus Capital Management LLC acquired a new stake in shares of BridgeBio Pharma in the first quarter worth $51,874,000. Invesco Ltd. grew its holdings in shares of BridgeBio Pharma by 147.0% during the first quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock valued at $76,267,000 after buying an additional 1,313,036 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of BridgeBio Pharma by 142.1% during the second quarter. Franklin Resources Inc. now owns 821,405 shares of the company’s stock valued at $35,468,000 after buying an additional 482,149 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new position in BridgeBio Pharma during the first quarter valued at $15,143,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BBIO shares. Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. UBS Group upped their price objective on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Piper Sandler lifted their target price on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Cowen restated a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. Twenty research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insiders Place Their Bets

In related news, Director Andrew Lo sold 55,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the transaction, the director owned 50,583 shares in the company, valued at $3,322,797.27. This trade represents a 52.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.65, for a total transaction of $666,500.00. Following the transaction, the director directly owned 11,589 shares of the company’s stock, valued at approximately $772,406.85. This represents a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 515,204 shares of company stock valued at $33,436,960 in the last three months. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Performance

BBIO opened at $73.64 on Friday. The company has a market cap of $14.19 billion, a PE ratio of -17.62 and a beta of 1.26. The stock has a 50-day moving average of $62.01 and a 200-day moving average of $51.15. BridgeBio Pharma, Inc. has a 52-week low of $25.34 and a 52-week high of $75.04.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. The business’s revenue was up 4318.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.86) EPS. On average, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.