Vanguard Group Inc. Sells 177,770 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Vanguard Group Inc. reduced its stock holdings in BridgeBio Pharma by 1.2%, owning approximately 7.85% of the company after selling 177,770 shares, valued at about $515 million.
• Other institutional investors are increasing their stakes in BridgeBio, with GAMMA Investing LLC boosting its holdings by 71% and other firms making significant new investments.
• BridgeBio's stock is currently valued at $51.32, with a market capitalization of $9.81 billion, and reported a revenue surge of nearly 5000% year-over-year despite an EPS miss.

Vanguard Group Inc. reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,900,145 shares of the company's stock after selling 177,770 shares during the period. Vanguard Group Inc. owned 7.85% of BridgeBio Pharma worth $515,098,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after purchasing an additional 382 shares during the period. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma in the fourth quarter worth $41,000. Sterling Capital Management LLC raised its position in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the 4th quarter valued at about $109,000. Finally, CWM LLC lifted its stake in shares of BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Down 3.3%

NASDAQ:BBIO traded down $1.69 during trading hours on Monday, hitting $49.64. 1,602,926 shares of the stock traded hands, compared to its average volume of 3,026,955. The company has a market cap of $9.49 billion, a price-to-earnings ratio of -12.13 and a beta of 1.23. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $51.86. The stock has a 50 day moving average price of $44.91 and a 200 day moving average price of $37.96.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results 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 company had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The business's revenue for the quarter was up 4999.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) earnings per share. Equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BBIO. Piper Sandler raised their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Truist Financial initiated coverage on BridgeBio Pharma in a research report on Monday, July 21st. They set a "buy" rating and a $66.00 price objective on the stock. Citigroup lifted their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Wolfe Research began coverage on shares of BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.35.

Insider Activity

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.45, for a total transaction of $1,818,000.00. Following the sale, the chief executive officer owned 935,686 shares in the company, valued at $42,526,928.70. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrea Ellis sold 17,167 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total transaction of $841,183.00. Following the transaction, the director directly owned 18,589 shares of the company's stock, valued at $910,861. The trade was a 48.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,082,166 shares of company stock valued at $179,625,746 in the last three months. 18.20% of the stock is currently owned by insiders.

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.