BridgeBio Pharma, Inc. $BBIO Position Cut by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the company’s stock after selling 150,000 shares during the quarter. Affinity Asset Advisors LLC owned about 0.08% of BridgeBio Pharma worth $6,477,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BridgeBio Pharma in the 2nd quarter valued at about $25,000. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma in the first quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC raised its holdings in shares of BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after buying an additional 228 shares during the last quarter. LVW Advisors LLC acquired a new position in shares of BridgeBio Pharma during the second quarter worth approximately $202,000. Finally, DAVENPORT & Co LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity

In other news, CEO Neil Kumar sold 26,156 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $65.84, for a total transaction of $1,722,111.04. Following the completion of the sale, the chief executive officer directly owned 228,776 shares of the company’s stock, valued at $15,062,611.84. This trade represents a 10.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hannah Valantine sold 25,484 shares of BridgeBio Pharma stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $66.07, for a total value of $1,683,727.88. Following the completion of the transaction, the director owned 7,465 shares in the company, valued at $493,212.55. The trade was a 77.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 515,204 shares of company stock valued at $33,436,960 in the last ninety days. 18.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BBIO. Raymond James Financial reaffirmed an “outperform” rating and set a $71.00 target price (up previously from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Wells Fargo & Company upped their price objective on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Cowen restated a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.37.

BridgeBio Pharma Trading Down 1.5%

Shares of NASDAQ BBIO opened at $73.64 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $25.34 and a twelve month high of $75.04. The firm has a 50-day moving average of $62.01 and a two-hundred day moving average of $51.15. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of -17.62 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. During the same quarter in the prior year, the company earned ($0.86) earnings per share. BridgeBio Pharma’s revenue was up 4318.0% on a year-over-year basis. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.