US Bancorp DE Decreases Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

US Bancorp DE reduced its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 55.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,455 shares of the company’s stock after selling 5,462 shares during the quarter. US Bancorp DE’s holdings in BridgeBio Pharma were worth $122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the period. Avanza Fonder AB purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $181,000. First Bank & Trust purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $205,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $208,000. Finally, Legato Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $210,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BBIO. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Bank of America raised their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank lifted their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Finally, Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,579,739 shares of company stock valued at $323,171,901 over the last quarter. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Trading Up 2.0 %

Shares of NASDAQ BBIO opened at $32.97 on Monday. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47. The stock has a 50 day moving average of $33.62 and a two-hundred day moving average of $28.88. The stock has a market cap of $6.27 billion, a P/E ratio of -11.57 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.