Wellington Management Group LLP Trims Position in BridgeBio Pharma, Inc. $BBIO

Wellington Management Group LLP lessened its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,011 shares of the company’s stock after selling 4,796 shares during the quarter. Wellington Management Group LLP’s holdings in BridgeBio Pharma were worth $2,075,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $41,000. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $109,000. CWM LLC increased its position in BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company’s stock valued at $182,000 after acquiring an additional 598 shares during the last quarter. Finally, Commerce Bank purchased a new stake in BridgeBio Pharma during the first quarter valued at $209,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBIO. Raymond James Financial began coverage on BridgeBio Pharma in a research report on Wednesday, July 30th. They set an “outperform” rating and a $56.00 price objective for the company. Bank of America upped their price target on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Truist Financial began coverage on BridgeBio Pharma in a research report on Monday, July 21st. They issued a “buy” rating and a $66.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seventeen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $62.18.

BridgeBio Pharma Stock Down 1.5%

NASDAQ BBIO opened at $51.76 on Friday. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of -12.66 and a beta of 1.23. The business has a 50-day moving average price of $46.82 and a 200-day moving average price of $39.12. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $52.85.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to analysts’ expectations of $98.46 million. The firm’s revenue for the quarter was up 4999.9% on a year-over-year basis. During the same period last year, the business posted ($0.39) earnings per share. Research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, Director Charles J. Homcy sold 250,000 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the completion of the transaction, the director owned 966,674 shares of the company’s stock, valued at $44,515,337.70. This represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Trimarchi sold 42,237 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the transaction, the chief financial officer directly owned 421,081 shares of the company’s stock, valued at approximately $20,835,087.88. This trade represents a 9.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,092,912 shares of company stock valued at $181,359,210. 18.20% of the stock is owned by corporate insiders.

About BridgeBio Pharma

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.