B. Metzler seel. Sohn & Co. AG Cuts Position in BridgeBio Pharma, Inc. $BBIO

B. Metzler seel. Sohn & Co. AG reduced its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 29.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,506 shares of the company’s stock after selling 7,245 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in BridgeBio Pharma were worth $1,339,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma in the first quarter valued at approximately $35,000. First Horizon Corp purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $36,000. Finally, Huntington National Bank increased its stake in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $73.28 on Monday. The firm has a market cap of $14.21 billion, a PE ratio of -19.39 and a beta of 1.09. The company’s 50 day simple moving average is $71.46 and its 200-day simple moving average is $70.61. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. The company’s revenue was up 2521.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.40) EPS. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.07 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the transaction, the director directly owned 11,589 shares in the company, valued at approximately $874,505.94. This trade represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the transaction, the chief executive officer owned 695,686 shares in the company, valued at approximately $50,047,650.84. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 237,084 shares of company stock valued at $16,634,419. 18.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho increased their price target on shares of BridgeBio Pharma from $91.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. William Blair assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating on the stock. HC Wainwright increased their price target on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Twenty-four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.38.

BridgeBio Pharma Company Profile

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.