BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 94.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,500 shares of the company’s stock after selling 75,028 shares during the quarter. Federated Hermes Inc.’s holdings in BridgeBio Pharma were worth $114,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. American International Group Inc. lifted 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 purchasing an additional 565 shares during the period. Parkman Healthcare Partners LLC boosted its holdings 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 acquiring an additional 734 shares in 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 acquiring an additional 790 shares during the period. Assetmark Inc. raised its holdings in BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in BridgeBio Pharma in the first quarter valued at about $34,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BBIO. Bank of America reissued a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Evercore ISI cut their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Buying and Selling at BridgeBio Pharma

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

BridgeBio Pharma Price Performance

Shares of BBIO opened at $24.51 on Thursday. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -7.61 and a beta of 1.07. The firm has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $27.10.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.98) EPS. On average, equities analysts expect 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.