BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,572 shares of the company’s stock after selling 11,990 shares during the period. HighVista Strategies LLC’s holdings in BridgeBio Pharma were worth $1,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma during the 1st quarter worth approximately $34,000. Bfsg LLC increased its position in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares in the last quarter. Quarry LP acquired a new position in BridgeBio Pharma in the 4th quarter valued at $50,000. Headlands Technologies LLC purchased a new position in BridgeBio Pharma in the 2nd quarter valued at $48,000. Finally, Assetmark Inc. boosted its stake in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $26.74 on Monday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The company has a 50 day moving average price of $26.50 and a 200 day moving average price of $27.16. The stock has a market capitalization of $5.00 billion, a P/E ratio of -8.30 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.98) earnings per share. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BBIO shares. Bank of America reiterated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

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.