Bellevue Group AG Sells 20,500 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Bellevue Group AG lessened its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 61.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,800 shares of the company’s stock after selling 20,500 shares during the quarter. Bellevue Group AG’s holdings in BridgeBio Pharma were worth $396,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the first quarter worth approximately $34,000. Quarry LP bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $50,000. Assetmark Inc. lifted its stake in BridgeBio Pharma by 46.8% in the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after acquiring an additional 935 shares during the period. EntryPoint Capital LLC bought a new position in BridgeBio Pharma during the 1st quarter worth about $117,000. Finally, Sargent Investment Group LLC purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $213,000. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, July 1st. Bank of America dropped their target price on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Evercore ISI assumed coverage on BridgeBio Pharma in a research note on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a report on Thursday, June 20th. Finally, UBS Group cut their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.73.

Insider Activity

In related news, Director Randal W. Scott sold 1,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 5,500 shares in the company, valued at $158,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.98 during midday trading on Monday, reaching $26.07. The stock had a trading volume of 340,566 shares, compared to its average volume of 1,814,812. The firm has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $29.70. The stock has a market cap of $4.88 billion, a PE ratio of -8.15 and a beta of 1.06. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32.

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