Erste Asset Management GmbH Trims Holdings in BridgeBio Pharma, Inc. $BBIO

Erste Asset Management GmbH lessened its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,225 shares of the company’s stock after selling 30,000 shares during the period. Erste Asset Management GmbH owned about 0.06% of BridgeBio Pharma worth $8,334,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. L & S Advisors Inc purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $877,000. TD Asset Management Inc purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $4,620,000. Candriam S.C.A. purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $7,738,000. Central Pacific Bank Trust Division purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $789,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after acquiring an additional 987,273 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 0.4%

BridgeBio Pharma stock opened at $67.37 on Tuesday. The stock’s 50 day moving average is $70.59 and its 200 day moving average is $72.12. BridgeBio Pharma, Inc. has a twelve month low of $38.57 and a twelve month high of $84.94. The company has a market capitalization of $13.20 billion, a P/E ratio of -18.01 and a beta of 0.98.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. During the same quarter last year, the company posted ($0.88) EPS. The company’s revenue was up 66.8% on a year-over-year basis. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the 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 sale, the director directly owned 11,589 shares in the company, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the sale, the chief financial officer owned 359,194 shares in the company, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 211,754 shares of company stock valued at $14,664,059. 14.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. William Blair initiated coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating on the stock. Canaccord Genuity Group assumed coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target on the stock. Citigroup assumed coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target on the stock. Twenty-three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.59.

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.