Perceptive Advisors LLC Trims Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Perceptive Advisors LLC lowered its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,215,346 shares of the company’s stock after selling 196,687 shares during the period. Perceptive Advisors LLC owned about 0.65% of BridgeBio Pharma worth $30,785,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in BridgeBio Pharma by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after buying an additional 75,564 shares during the period. Price T Rowe Associates Inc. MD raised its position in BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after purchasing an additional 145,594 shares during the period. Vanguard Group Inc. raised its position in BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $7,474,000. Finally, Comerica Bank increased its position in shares of BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after acquiring an additional 37,277 shares during the period. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.9 %

Shares of NASDAQ BBIO opened at $24.94 on Monday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The stock has a market cap of $4.67 billion, a PE ratio of -7.75 and a beta of 1.07. The company has a 50-day moving average of $26.24 and a 200 day moving average of $27.01.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during 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 last year, the company earned ($0.98) EPS. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,831,544 shares of company stock valued at $150,128,821. Company insiders own 24.66% of the company’s stock.

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.