Emerald Advisers LLC Sells 20,403 Shares of BridgeBio Pharma, Inc. $BBIO

Emerald Advisers LLC lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515,361 shares of the company's stock after selling 20,403 shares during the period. BridgeBio Pharma accounts for 1.2% of Emerald Advisers LLC's portfolio, making the stock its 20th largest holding. Emerald Advisers LLC owned 0.26% of BridgeBio Pharma worth $38,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BBIO. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the 1st quarter worth $35,000. Farther Finance Advisors LLC boosted its holdings in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after acquiring an additional 245 shares during the period. Global Retirement Partners LLC grew 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 valued at $39,000 after purchasing an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $41,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on BBIO shares. Canaccord Genuity Group started coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a "buy" rating and a $104.00 target price for the company. Truist Financial upped their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley upped their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Finally, Citigroup initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 price target on the stock. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average target price of $94.63.

BridgeBio Pharma Trading Down 3.3%

Shares of NASDAQ:BBIO opened at $83.08 on Tuesday. BridgeBio Pharma, Inc. has a 1-year low of $42.09 and a 1-year high of $93.42. The firm has a market capitalization of $16.27 billion, a PE ratio of -22.21 and a beta of 0.95. The business's 50 day moving average is $70.00 and its 200-day moving average is $72.14.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. The company's revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) EPS. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.3 EPS for the current year.

Insider Activity

In other news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction 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 transaction, the director owned 22,579 shares in the company, valued at approximately $1,896,636. This represents a 43.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the transaction, the chief executive officer directly owned 535,686 shares of the company's stock, valued at $36,137,377.56. The trade was a 6.95% 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. Over the last three months, insiders have sold 432,117 shares of company stock valued at $32,633,740. 14.23% of the stock is owned by insiders.

BridgeBio Pharma Profile

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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