BridgeBio Pharma, Inc. $BBIO Position Trimmed by Granahan Investment Management LLC

Granahan Investment Management LLC decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 36.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,805 shares of the company’s stock after selling 59,473 shares during the quarter. Granahan Investment Management LLC’s holdings in BridgeBio Pharma were worth $7,787,000 as of its most recent filing with the SEC.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at $778,201.35. The trade was a 46.32% 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. Over the last quarter, insiders have sold 171,754 shares of company stock worth $11,914,859. 14.23% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Stock Down 2.0%

Shares of BBIO opened at $66.64 on Wednesday. The firm has a 50-day moving average price of $69.99 and a 200 day moving average price of $72.07. The firm has a market capitalization of $13.05 billion, a PE ratio of -17.82 and a beta of 0.97. BridgeBio Pharma, Inc. has a 52-week low of $39.65 and a 52-week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.88) EPS. On average, equities analysts expect that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. William Blair assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating for the company. Citigroup assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target for the company. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of BridgeBio Pharma in a report on Thursday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.05.

BridgeBio Pharma Profile

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.