Charles Schwab Investment Management Inc. Sells 24,536 Shares of BridgeBio Pharma, Inc. $BBIO

Charles Schwab Investment Management Inc. lowered its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,282,229 shares of the company's stock after selling 24,536 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of BridgeBio Pharma worth $44,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after acquiring an additional 382 shares during the period. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC increased its holdings in BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after acquiring an additional 1,514 shares during the period. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma during the 4th quarter worth approximately $109,000. Finally, CWM LLC increased its holdings in 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 acquiring an additional 598 shares during the period. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

BBIO traded down $0.1320 during trading on Friday, hitting $50.0980. 230,493 shares of the stock traded hands, compared to its average volume of 2,995,848. The firm has a 50-day moving average of $45.69 and a 200 day moving average of $38.34. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $51.86. The firm has a market capitalization of $9.58 billion, a P/E ratio of -12.27 and a beta of 1.23.

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

Insider Activity at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction dated 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 transaction, the insider directly owned 18,555,375 shares of the company's stock, valued at $816,436,500. This trade represents a 15.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Mccormick sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the sale, the director owned 879,979 shares of the company's stock, valued at approximately $38,921,471.17. This represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,024,519 shares of company stock worth $177,992,388 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBIO shares. Wells Fargo & Company upped their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Truist Financial initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 21st. They issued a "buy" rating and a $66.00 price target for the company. Oppenheimer boosted their price target 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. HC Wainwright boosted their price target 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. Finally, Raymond James Financial started coverage on shares of BridgeBio Pharma in a research note on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price target for the company. Seventeen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of "Buy" and an average target price of $61.35.

About BridgeBio Pharma

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.