BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lowered its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 34.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,886 shares of the company’s stock after selling 2,537 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in BridgeBio Pharma were worth $151,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Diversified Trust Co increased its holdings in shares of BridgeBio Pharma by 57.1% in the first quarter. Diversified Trust Co now owns 27,702 shares of the company’s stock valued at $857,000 after buying an additional 10,066 shares in the last quarter. First Bank & Trust bought a new position in shares of BridgeBio Pharma in the first quarter valued at $248,000. Hennion & Walsh Asset Management Inc. raised its stake in BridgeBio Pharma by 18.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 144,094 shares of the company’s stock valued at $4,455,000 after purchasing an additional 22,441 shares during the period. Nomura Holdings Inc. raised its stake in BridgeBio Pharma by 9.8% during the 4th quarter. Nomura Holdings Inc. now owns 257,995 shares of the company’s stock valued at $10,415,000 after purchasing an additional 22,986 shares during the period. Finally, Vanguard Group Inc. raised its stake in BridgeBio Pharma by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBIO. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday. UBS Group lowered their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Evercore ISI initiated coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price target on the stock. Bank of America lowered their price target on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.21.

BridgeBio Pharma Trading Up 0.4 %

Shares of NASDAQ:BBIO opened at $25.00 on Thursday. The stock has a market capitalization of $4.68 billion, a PE ratio of -7.76 and a beta of 1.06. BridgeBio Pharma, Inc. has a 1 year low of $16.61 and a 1 year high of $44.32. The firm has a fifty day moving average price of $27.37 and a 200 day moving average price of $31.38.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million for the quarter, compared to the consensus estimate of $140.06 million. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.66% of the company’s stock.

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.