Handelsbanken Fonder AB Sells 3,300 Shares of BridgeBio Pharma, Inc. $BBIO

Handelsbanken Fonder AB decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.7% in the second quarter, Holdings Channel reports. The firm owned 34,650 shares of the company’s stock after selling 3,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in BridgeBio Pharma were worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BBIO. Geode Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after buying an additional 178,686 shares in the last quarter. Invesco Ltd. grew its position in BridgeBio Pharma by 147.0% in the first quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock valued at $76,267,000 after acquiring an additional 1,313,036 shares during the period. Cormorant Asset Management LP raised its stake in BridgeBio Pharma by 25.0% during the first quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company’s stock worth $69,140,000 after acquiring an additional 400,000 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of BridgeBio Pharma during the first quarter valued at $51,874,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of BridgeBio Pharma by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company’s stock valued at $40,274,000 after purchasing an additional 173,729 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 1.5%

Shares of BBIO stock opened at $71.72 on Thursday. BridgeBio Pharma, Inc. has a 1 year low of $25.34 and a 1 year high of $72.26. The firm’s 50 day moving average is $58.99 and its 200-day moving average is $49.37. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of -17.16 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the previous year, the business earned ($0.86) EPS. BridgeBio Pharma’s revenue was up 4318.0% compared to the same quarter last year. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $71.00 price objective (up from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Scotiabank raised their price target on BridgeBio Pharma from $55.00 to $57.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 6th. Twenty analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrew Lo sold 55,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the completion of the sale, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 26,156 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $65.84, for a total transaction of $1,722,111.04. Following the transaction, the chief executive officer owned 228,776 shares in the company, valued at approximately $15,062,611.84. The trade was a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 629,204 shares of company stock valued at $39,424,400 over the last quarter. 18.20% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Company 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.