Algert Global LLC Sells 33,558 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Algert Global LLC trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 37.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,848 shares of the company’s stock after selling 33,558 shares during the quarter. Algert Global LLC’s holdings in BridgeBio Pharma were worth $1,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BBIO. Profund Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after buying an additional 555 shares during the period. American International Group Inc. boosted its holdings in shares of BridgeBio Pharma by 1.0% during the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after acquiring an additional 565 shares during the period. Parkman Healthcare Partners LLC grew its position in shares of BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after purchasing an additional 734 shares during the last quarter. Bfsg LLC increased its stake in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the period. Finally, Amalgamated Bank lifted its holdings in BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBIO has been the subject of a number of recent research reports. Piper Sandler started coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Oppenheimer started coverage on shares of BridgeBio Pharma in a report on Thursday. They set a “market perform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock worth $150,128,821 in the last ninety days. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Up 2.2 %

NASDAQ BBIO opened at $25.63 on Friday. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -7.96 and a beta of 1.08. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The business’s fifty day moving average is $26.12 and its 200 day moving average is $26.96.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.98) earnings per share. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

BridgeBio Pharma Company Profile

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.