Diversified Trust Co Trims Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Diversified Trust Co reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,827 shares of the company’s stock after selling 8,945 shares during the period. Diversified Trust Co’s holdings in BridgeBio Pharma were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC boosted its position in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after acquiring an additional 555 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of BridgeBio Pharma by 17.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares during the period. Amalgamated Bank increased its stake in BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in BridgeBio Pharma by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after buying an additional 1,214 shares during the period. Finally, Quarry LP boosted its stake in BridgeBio Pharma by 27.1% in the 2nd quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $190,000 after buying an additional 1,600 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Leerink Partners dropped their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Scotiabank boosted their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

Insider Transactions at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Up 2.1 %

NASDAQ BBIO opened at $29.45 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $41.04. The business has a 50 day moving average price of $26.74 and a two-hundred day moving average price of $26.13. The stock has a market cap of $5.57 billion, a PE ratio of -12.22 and a beta of 1.05.

BridgeBio Pharma 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.