Affinity Asset Advisors LLC Has $11.14 Million Position in BridgeBio Pharma, Inc. $BBIO

Affinity Asset Advisors LLC lessened its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 53.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 150,000 shares of the company’s stock after selling 170,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in BridgeBio Pharma were worth $11,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its stake in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in BridgeBio Pharma during the 4th quarter worth approximately $41,000. Cary Street Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after acquiring an additional 508 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $44,000. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup lifted their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Morgan Stanley lifted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.21.

BridgeBio Pharma Stock Up 1.3%

Shares of BBIO stock opened at $84.02 on Friday. BridgeBio Pharma, Inc. has a 12-month low of $42.09 and a 12-month high of $93.42. The firm has a fifty day moving average of $72.69 and a 200-day moving average of $72.53. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of -22.47 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The company’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.88) earnings per share. On average, equities analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director owned 22,579 shares in the company, valued at approximately $1,896,636. This represents a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at $36,137,377.56. This represents a 6.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 432,117 shares of company stock worth $32,633,740 over the last three months. Company 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.