BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 447,171 shares of the company’s stock after selling 18,605 shares during the quarter. Federated Hermes Inc. owned approximately 0.26% of BridgeBio Pharma worth $18,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in BridgeBio Pharma by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock worth $663,000 after buying an additional 386 shares during the last quarter. Diversified Trust Co increased its stake in BridgeBio Pharma by 2.5% during the third quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock valued at $451,000 after purchasing an additional 411 shares during the last quarter. Amalgamated Bank raised its holdings in shares of BridgeBio Pharma by 3.8% during the third quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock worth $416,000 after purchasing an additional 576 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of BridgeBio Pharma by 4.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock worth $403,000 after buying an additional 720 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of BridgeBio Pharma by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,773 shares of the company’s stock valued at $2,655,000 after buying an additional 904 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at approximately $221,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.52% of the company’s stock.

BridgeBio Pharma Trading Up 1.3 %

Shares of BridgeBio Pharma stock opened at $25.07 on Tuesday. BridgeBio Pharma, Inc. has a 52 week low of $12.75 and a 52 week high of $44.32. The stock has a market cap of $4.41 billion, a PE ratio of -6.36 and a beta of 1.03. The company’s 50-day moving average price is $30.31 and its two-hundred day moving average price is $31.82.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. BridgeBio Pharma’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.92) EPS. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BBIO shares. JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Cantor Fitzgerald upped their price objective on BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Citigroup raised their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Raymond James assumed coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, BMO Capital Markets began coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They set a “market perform” rating and a $37.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $47.82.

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.