BridgeBio Pharma, Inc. $BBIO Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lessened its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 720,343 shares of the company’s stock after selling 300,914 shares during the quarter. BridgeBio Pharma accounts for about 1.2% of Emerald Advisers LLC’s portfolio, making the stock its 23rd largest holding. Emerald Advisers LLC owned about 0.38% of BridgeBio Pharma worth $37,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $35,000. Retirement Income Solutions Inc acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $216,000. LVW Advisors LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $202,000. Moss Adams Wealth Advisors LLC increased its holdings in shares of BridgeBio Pharma by 49.2% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock valued at $1,044,000 after purchasing an additional 7,970 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of BridgeBio Pharma in the 2nd quarter valued at $255,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity

In other BridgeBio Pharma news, Director Frank Mccormick sold 198,359 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $66.58, for a total value of $13,206,742.22. Following the completion of the sale, the director owned 679,979 shares in the company, valued at approximately $45,273,001.82. This represents a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hannah Valantine sold 25,484 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $66.07, for a total transaction of $1,683,727.88. Following the completion of the transaction, the director directly owned 7,465 shares in the company, valued at $493,212.55. This trade represents a 77.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 587,215 shares of company stock valued at $39,569,101 in the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $78.15 on Thursday. BridgeBio Pharma, Inc. has a 1 year low of $28.33 and a 1 year high of $79.88. The firm has a market capitalization of $15.06 billion, a PE ratio of -18.70 and a beta of 1.17. The business’s 50 day moving average price is $73.69 and its 200-day moving average price is $59.72.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results 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 business had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. The firm’s revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.86) earnings per share. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several analyst reports. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Leerink Partners raised their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Morgan Stanley assumed coverage on BridgeBio Pharma in a report on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 price target for the company. Wells Fargo & Company increased their price target on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.05.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.