BridgeBio Pharma, Inc. $BBIO Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.5% during the second quarter, Holdings Channel reports. The firm owned 106,980 shares of the company’s stock after selling 22,621 shares during the quarter. Tidal Investments LLC’s holdings in BridgeBio Pharma were worth $7,968,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in BridgeBio Pharma in the 2nd quarter worth about $52,000. IFP Advisors Inc lifted its stake in BridgeBio Pharma by 44.8% during the second quarter. IFP Advisors Inc now owns 1,160 shares of the company’s stock valued at $86,000 after buying an additional 359 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of BridgeBio Pharma by 114.2% in the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock worth $88,760,000 after buying an additional 635,408 shares during the period. Arizona State Retirement System increased its position in shares of BridgeBio Pharma by 2.0% in the second quarter. Arizona State Retirement System now owns 40,501 shares of the company’s stock worth $3,017,000 after acquiring an additional 802 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of BridgeBio Pharma during the second quarter valued at approximately $410,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBIO has been the subject of several research analyst reports. TD Cowen upped their price target on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Citigroup boosted their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Canaccord Genuity Group increased their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered their price target on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.61.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $72.44 on Friday. The company has a market capitalization of $14.16 billion, a PE ratio of -20.29 and a beta of 0.97. The company’s 50 day moving average price is $80.65 and its 200 day moving average price is $73.67. BridgeBio Pharma, Inc. has a 52 week low of $48.78 and a 52 week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. During the same period in the prior year, the business earned ($0.95) earnings per share. The firm’s revenue for the quarter was up 120.4% on a year-over-year basis. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma 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 value of $1,442,028.00. Following the transaction, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This represents a 43.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the transaction, the chief accounting officer directly owned 127,401 shares in the company, valued at approximately $10,199,724.06. The trade was a 1.55% 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. Insiders sold 347,343 shares of company stock valued at $27,591,000 in the last quarter. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.