Assenagon Asset Management S.A. Decreases Stock Position in BridgeBio Pharma, Inc. $BBIO

Assenagon Asset Management S.A. trimmed its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 87.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,513 shares of the company’s stock after selling 225,391 shares during the period. Assenagon Asset Management S.A.’s holdings in BridgeBio Pharma were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after purchasing an additional 347,074 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of BridgeBio Pharma by 3.7% during the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock worth $425,492,000 after purchasing an additional 292,000 shares in the last quarter. Aisling Capital Management LP raised its position in shares of BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after purchasing an additional 21,486 shares during the last quarter. Invesco Ltd. raised its position in shares of BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after purchasing an additional 1,127,592 shares during the last quarter. Finally, Norges Bank purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at approximately $84,488,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Buying and Selling

In related news, CAO Maricel Apuli sold 510 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the completion of the sale, the chief accounting officer directly owned 123,945 shares in the company, valued at approximately $9,210,352.95. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the transaction, the director directly owned 18,589 shares of the company’s stock, valued at $1,205,868.43. This trade represents a 77.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 237,084 shares of company stock worth $16,608,419 over the last ninety days. Insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HC Wainwright increased their target price on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Mizuho upped their price objective on BridgeBio Pharma from $91.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. William Blair initiated coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Leerink Partners reiterated an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Finally, Sanford C. Bernstein started coverage on shares of BridgeBio Pharma in a research note on Thursday, December 11th. They issued an “outperform” rating and a $94.00 target price for the company. Twenty-three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.75.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $69.36 on Tuesday. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94. The company has a market capitalization of $13.45 billion, a PE ratio of -18.35 and a beta of 1.13. The stock has a fifty day moving average of $71.70 and a two-hundred day moving average of $67.56.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. The firm’s revenue was up 2521.2% on a year-over-year basis. During the same quarter last year, the business earned ($1.40) EPS. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

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.