BridgeBio Pharma, Inc. $BBIO Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in BridgeBio Pharma by 3.9%, now owning approximately 1.41% of the company, valued at about $92.79 million.
• The company's latest earnings report showed a significant revenue increase of 4999.9% year-over-year, despite reporting a loss of ($0.95) earnings per share.
• Recent analyst ratings indicate a consensus Buy rating for the stock, with an average price target of $63.35.

Alliancebernstein L.P. decreased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,684,146 shares of the company's stock after selling 110,146 shares during the period. Alliancebernstein L.P. owned about 1.41% of BridgeBio Pharma worth $92,791,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the period. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma during the fourth quarter worth about $109,000. CWM LLC raised its stake in shares of BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after acquiring an additional 598 shares during the period. Commerce Bank purchased a new stake in shares of BridgeBio Pharma in the 1st quarter valued at approximately $209,000. Finally, Cerity Partners LLC purchased a new stake in shares of BridgeBio Pharma in the 1st quarter valued at approximately $229,000. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $0.91 during mid-day trading on Monday, hitting $54.29. 2,050,779 shares of the company's stock traded hands, compared to its average volume of 2,247,988. The company has a market cap of $10.38 billion, a PE ratio of -13.27 and a beta of 1.25. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $54.60. The firm's 50 day simple moving average is $47.80 and its 200 day simple moving average is $39.86.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The firm had revenue of $110.57 million for the quarter, compared to analyst estimates of $98.46 million. BridgeBio Pharma's quarterly revenue was up 4999.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.39) EPS. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Charles J. Homcy sold 50,000 shares of BridgeBio Pharma stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director directly owned 916,674 shares in the company, valued at $44,000,352. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Mccormick sold 74,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the completion of the sale, the director directly owned 83,275 shares in the company, valued at $4,426,899. This represents a 47.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,206,912 shares of company stock valued at $187,346,650. Corporate insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Oppenheimer upped their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Piper Sandler boosted their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Citigroup increased their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company increased their price target on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $63.35.

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.