BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Algert Global LLC

Algert Global LLC cut its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 82.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,600 shares of the company's stock after selling 112,847 shares during the period. Algert Global LLC's holdings in BridgeBio Pharma were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after buying an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $41,000. Sterling Capital Management LLC boosted its position in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares during the period. Avanza Fonder AB acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $181,000. Finally, First Bank & Trust acquired a new stake in BridgeBio Pharma in the fourth quarter worth approximately $205,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $34.17 on Monday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.54. The stock has a fifty day moving average of $34.27 and a 200-day moving average of $31.30. The company has a market capitalization of $6.49 billion, a PE ratio of -11.99 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same period last year, the firm earned ($0.20) earnings per share. BridgeBio Pharma's revenue for the quarter was down 44.8% compared to the same quarter last year. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBIO. UBS Group upped their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. HC Wainwright upped their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Citigroup upped their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Piper Sandler upped their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average target price of $57.09.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 31,543 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares of the company's stock, valued at $7,651,488.52. This represents a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now directly owns 102,464 shares in the company, valued at $3,705,098.24. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,410,217 shares of company stock valued at $212,434,332 in the last three months. 24.66% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding BBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.