New York Life Investment Management LLC Sells 450 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

New York Life Investment Management LLC cut its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,990 shares of the company’s stock after selling 450 shares during the quarter. New York Life Investment Management LLC’s holdings in BridgeBio Pharma were worth $847,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of BridgeBio Pharma by 5.5% in the fourth quarter. Victory Capital Management Inc. now owns 459,569 shares of the company’s stock valued at $18,553,000 after buying an additional 24,156 shares during the last quarter. Certuity LLC acquired a new stake in BridgeBio Pharma in the 4th quarter valued at about $258,000. Sargent Investment Group LLC bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $213,000. State of New Jersey Common Pension Fund D lifted its position in shares of BridgeBio Pharma by 5.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 86,772 shares of the company’s stock worth $3,503,000 after purchasing an additional 4,588 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in BridgeBio Pharma in the 4th quarter valued at $214,000. 99.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $47.00 target price on shares of BridgeBio Pharma in a research report on Monday, March 4th. Citigroup raised their target price on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Mizuho dropped their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. BMO Capital Markets initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their target price on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $47.82.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 28.52% of the stock is owned by insiders.

BridgeBio Pharma Stock Down 0.3 %

Shares of NASDAQ BBIO opened at $27.70 on Thursday. BridgeBio Pharma, Inc. has a twelve month low of $12.75 and a twelve month high of $44.32. The company’s fifty day moving average is $28.30 and its 200-day moving average is $31.87. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of -8.60 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $4.78 million. During the same period last year, the firm posted ($0.92) earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

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.