HighTower Advisors LLC Lowers Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• HighTower Advisors reduced its BridgeBio Pharma stake by 60.1% in the fourth quarter, selling 138,407 shares and leaving it with 91,986 shares worth about $7.0 million.
• Insider selling has also been notable, including director Randal W. Scott selling 10,000 shares and CEO Neil Kumar selling 40,000 shares under pre-arranged 10b5-1 plans.
• Despite mixed signals, Wall Street remains mostly bullish: analysts have a Moderate Buy consensus on BBIO, even as the company recently reported a wider-than-expected quarterly loss but stronger-than-expected revenue growth.

HighTower Advisors LLC cut its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 60.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,986 shares of the company's stock after selling 138,407 shares during the quarter. HighTower Advisors LLC's holdings in BridgeBio Pharma were worth $7,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio increased its stake in shares of BridgeBio Pharma by 1.1% in the third quarter. Strs Ohio now owns 18,600 shares of the company's stock worth $966,000 after buying an additional 200 shares during the period. Farther Finance Advisors LLC increased its stake 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. State of New Jersey Common Pension Fund D increased its stake in shares of BridgeBio Pharma by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock worth $3,970,000 after buying an additional 246 shares during the period. CWM LLC increased its stake in shares of BridgeBio Pharma by 4.3% in the fourth quarter. CWM LLC now owns 6,444 shares of the company's stock worth $493,000 after buying an additional 265 shares during the period. Finally, Huntington National Bank increased its stake in shares of BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company's stock worth $39,000 after buying an additional 392 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director directly owned 11,589 shares of the company's stock, valued at approximately $778,201.35. The trade was a 46.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 business's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00. Following the transaction, the chief executive officer directly owned 615,686 shares in the company, valued at approximately $45,942,489.32. The trade was a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 236,675 shares of company stock worth $16,177,085. 14.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several analyst reports. Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Morgan Stanley lifted their target price on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. William Blair initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.90.

BridgeBio Pharma Trading Down 2.0%

Shares of BridgeBio Pharma stock opened at $67.73 on Wednesday. The company's fifty day simple moving average is $71.29 and its two-hundred day simple moving average is $72.02. The company has a market cap of $13.27 billion, a P/E ratio of -18.11 and a beta of 1.02. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued 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 business had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The company's revenue for the quarter 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. Analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

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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