Affinity Asset Advisors LLC Reduces Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Affinity Asset Advisors LLC lowered its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 200,000 shares of the company's stock after selling 100,000 shares during the quarter. Affinity Asset Advisors LLC owned approximately 0.11% of BridgeBio Pharma worth $5,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBIO. Y Intercept Hong Kong Ltd bought a new position in BridgeBio Pharma in the 3rd quarter worth $338,000. Barclays PLC boosted its position in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company's stock valued at $13,876,000 after acquiring an additional 131,743 shares in the last quarter. Geode Capital Management LLC raised its position in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock worth $86,936,000 after acquiring an additional 123,540 shares in the last quarter. Exome Asset Management LLC lifted its stake in shares of BridgeBio Pharma by 167.4% in the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock valued at $5,372,000 after purchasing an additional 132,093 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in BridgeBio Pharma by 1.8% in the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock worth $29,155,000 after purchasing an additional 19,978 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the transaction, the chief financial officer now directly owns 102,464 shares in the company, valued at approximately $3,705,098.24. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,694,739 shares of company stock valued at $327,308,651 over the last three months. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Trading Up 0.1 %

BBIO stock traded up $0.02 during midday trading on Friday, reaching $33.87. 1,410,624 shares of the company's stock traded hands, compared to its average volume of 2,271,192. The stock's 50-day moving average is $33.79 and its 200 day moving average is $30.11. The stock has a market cap of $6.44 billion, a P/E ratio of -11.88 and a beta of 1.08. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBIO shares. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 24th. HC Wainwright upped their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Redburn Atlantic assumed coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price objective for the company. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average target price of $53.00.

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.