Covestor Ltd Has $408,000 Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Key Points

• Covestor Ltd sold 43.7% of its shares in BridgeBio Pharma, Inc., leaving it with $408,000 worth of stock after reducing its holdings by 9,156 shares in the first quarter.
• BridgeBio Pharma recently reported a quarterly EPS of ($0.95), missing estimates, but its revenue surged 4999.9% year-over-year to $110.57 million.
• Analysts are generally optimistic about BridgeBio Pharma, with a consensus rating of "Moderate Buy" and a price target averaging $61.35 among a majority of buy ratings.

Covestor Ltd decreased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 43.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,812 shares of the company's stock after selling 9,156 shares during the period. Covestor Ltd's holdings in BridgeBio Pharma were worth $408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma in the 4th quarter valued at $41,000. Sterling Capital Management LLC lifted its position in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma in the 4th quarter valued at $109,000. Finally, CWM LLC boosted its stake in shares of BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the sale, the chief accounting officer owned 141,859 shares in the company, valued at approximately $6,446,072.96. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the completion of the sale, the insider owned 18,555,375 shares in the company, valued at $816,436,500. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,808,322 shares of company stock worth $166,585,026 in the last three months. Company insiders own 18.20% of the company's stock.

Analyst Ratings Changes

BBIO has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective for the company. Bank of America increased their price objective on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Truist Financial initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 price objective for the company. Finally, HC Wainwright increased their price objective on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.35.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock traded up $1.66 during trading hours on Monday, hitting $48.24. The company had a trading volume of 2,335,431 shares, compared to its average volume of 2,983,727. The firm has a market cap of $9.22 billion, a PE ratio of -11.79 and a beta of 1.23. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $49.77. The firm has a 50-day moving average of $43.66 and a 200 day moving average of $37.49.

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

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.