Affinity Asset Advisors LLC Has $11.14 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Affinity Asset Advisors LLC cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 170,000 shares during the quarter. Affinity Asset Advisors LLC owned approximately 0.08% of BridgeBio Pharma worth $11,139,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BBIO. Global Retirement Partners LLC increased its position in shares of BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after acquiring an additional 508 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $44,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Citigroup raised their price objective on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective for the company. Mizuho lowered their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada started coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $95.21.

BridgeBio Pharma Stock Up 1.3%

Shares of NASDAQ:BBIO opened at $84.02 on Friday. The company’s 50-day moving average price is $72.69 and its 200 day moving average price is $72.53. The company has a market cap of $16.46 billion, a PE ratio of -22.47 and a beta of 0.95. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. The company’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.88) EPS. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Insider Buying and Selling

In other news, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at approximately $742,230.82. This represents a 94.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the transaction, the director owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 432,117 shares of company stock valued at $32,633,740. 14.23% of the stock is owned by company insiders.

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.