BridgeBio Pharma, Inc. $BBIO Stock Holdings Decreased by Exome Asset Management LLC

Key Points

• Exome Asset Management cut its BridgeBio Pharma position by 16.4% in the first quarter, selling 13,231 shares and retaining 67,492 shares valued at approximately $5.0 million. Institutional investors collectively own 99.85% of BBIO.
• Analyst sentiment remains positive, with 20 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $95.21.
• BBIO opened at $84.12 and has risen above its 50-day and 200-day moving averages, but the company reported a quarterly EPS loss of $0.84 versus the expected $0.70 loss. Insiders have sold 432,117 shares worth about $32.6 million over the past 90 days.

Exome Asset Management LLC lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,492 shares of the company's stock after selling 13,231 shares during the quarter. BridgeBio Pharma accounts for about 2.6% of Exome Asset Management LLC's holdings, making the stock its 7th largest position. Exome Asset Management LLC's holdings in BridgeBio Pharma were worth $5,012,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma in the first quarter valued at $35,000. Farther Finance Advisors LLC boosted its position in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after buying an additional 245 shares during the period. Global Retirement Partners LLC boosted its position in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock worth $39,000 after buying an additional 372 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of BridgeBio Pharma during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Canaccord Genuity Group started coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $104.00 price objective for the company. Mizuho dropped their target price on BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a report on Tuesday, June 16th. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price target for the company. HC Wainwright raised their price target on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Morgan Stanley raised their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.21.

BridgeBio Pharma Trading Up 0.1%

BBIO opened at $84.12 on Tuesday. The stock has a fifty day moving average price of $73.07 and a 200 day moving average price of $72.59. BridgeBio Pharma, Inc. has a 1 year low of $42.09 and a 1 year high of $93.42. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of -22.49 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma's revenue was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.88) earnings per share. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the sale, the director directly owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company's stock, valued at $778,201.35. This represents a 46.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 432,117 shares of company stock valued at $32,633,740 in the last ninety days. 14.23% of the stock is currently owned by insiders.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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