BridgeBio Pharma, Inc. $BBIO Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has sold 48,114 shares of BridgeBio Pharma, reducing its ownership by 19.2%, and currently holds 202,128 shares valued at approximately $6.99 million.
• Institutional investors collectively own 99.85% of BridgeBio Pharma, with notable activity including a 71.0% increase in holdings by GAMMA Investing LLC in the first quarter.
• Analysts have raised ratings on BridgeBio, with several firms upgrading their targets; it currently holds an average "Buy" rating and a price target of $61.35.

Rafferty Asset Management LLC lowered its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,128 shares of the company's stock after selling 48,114 shares during the period. Rafferty Asset Management LLC owned approximately 0.11% of BridgeBio Pharma worth $6,988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in BridgeBio Pharma by 29.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock valued at $1,065,000 after purchasing an additional 6,997 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BridgeBio Pharma during the 1st quarter worth $251,000. Victory Capital Management Inc. increased its stake in BridgeBio Pharma by 22.8% in the first quarter. Victory Capital Management Inc. now owns 79,851 shares of the company's stock valued at $2,760,000 after purchasing an additional 14,825 shares during the period. Finally, Rhumbline Advisers boosted its holdings in BridgeBio Pharma by 0.5% during the first quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after buying an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Charles J. Homcy sold 50,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director directly owned 916,674 shares in the company, valued at approximately $44,000,352. The trade was a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 1,000 shares of BridgeBio Pharma 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 transaction, the chief accounting officer directly owned 141,859 shares of the company's stock, valued at approximately $6,446,072.96. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,092,912 shares of company stock worth $181,359,210 over the last ninety days. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock traded down $0.60 during trading hours on Tuesday, reaching $51.17. The stock had a trading volume of 1,413,769 shares, compared to its average volume of 2,977,485. The company has a fifty day simple moving average of $47.01 and a 200-day simple moving average of $39.29. The stock has a market cap of $9.78 billion, a PE ratio of -12.52 and a beta of 1.25. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $52.85.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share 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 firm earned ($0.39) earnings per share. The firm's revenue was up 4999.9% compared to the same quarter last year. Research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Jefferies Financial Group started coverage on BridgeBio Pharma in a report on Monday, July 14th. They set a "buy" rating and a $70.00 price target for the company. Scotiabank boosted their price objective on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a report on Wednesday, August 6th. Bank of America boosted their price objective on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating, According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Buy" and a consensus target price of $62.18.

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.