Handelsinvest Investeringsforvaltning Sells 2,537 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Handelsinvest Investeringsforvaltning decreased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 34.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,886 shares of the company’s stock after selling 2,537 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in BridgeBio Pharma were worth $151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its holdings in BridgeBio Pharma by 2.2% in the 3rd quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock valued at $30,429,000 after purchasing an additional 24,643 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in BridgeBio Pharma in the 3rd quarter valued at about $4,407,000. GSA Capital Partners LLP bought a new stake in BridgeBio Pharma in the 3rd quarter valued at about $2,270,000. The Manufacturers Life Insurance Company boosted its holdings in BridgeBio Pharma by 170.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock valued at $17,552,000 after purchasing an additional 419,813 shares during the period. Finally, Diversified Trust Co boosted its holdings in BridgeBio Pharma by 2.5% in the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock valued at $451,000 after purchasing an additional 411 shares during the period. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

BBIO stock opened at $25.00 on Thursday. The company has a 50 day simple moving average of $27.37 and a 200 day simple moving average of $31.38. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -7.76 and a beta of 1.06. BridgeBio Pharma, Inc. has a 1 year low of $16.61 and a 1 year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The company had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $158,620. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 24.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on BBIO shares. HC Wainwright reissued a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a report on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday. Evercore ISI assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 target price for the company. Raymond James assumed coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.21.

About BridgeBio Pharma

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.