Woodline Partners LP Lowers Stock Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Woodline Partners LP has reduced its stake in BridgeBio Pharma by 26.5%, selling 585,766 shares and retaining a total of 1,625,755 shares worth approximately $56.2 million.
• Over 99.85% of BridgeBio Pharma's stock is owned by institutional investors, with several firms recently increasing their holdings, indicating strong investor interest in the company.
• BridgeBio's stock saw a significant price target increase from various analysts, with a consensus rating of "Buy" and an average target price of $63.35.

Woodline Partners LP trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,625,755 shares of the company's stock after selling 585,766 shares during the quarter. Woodline Partners LP owned approximately 0.86% of BridgeBio Pharma worth $56,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC increased 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 worth $32,000 after purchasing an additional 382 shares in the last quarter. Xponance Inc. grew its holdings in BridgeBio Pharma by 3.8% during the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after purchasing an additional 385 shares during the period. Mackenzie Financial Corp grew its holdings in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock valued at $261,000 after purchasing an additional 592 shares during the period. CWM LLC lifted its position in shares of BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after acquiring an additional 598 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in shares of BridgeBio Pharma by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company's stock valued at $167,000 after acquiring an additional 871 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Down 2.6%

Shares of BridgeBio Pharma stock traded down $1.39 on Friday, hitting $51.21. 2,087,756 shares of the company were exchanged, compared to its average volume of 2,190,681. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -12.52 and a beta of 1.25. The company has a 50-day moving average price of $48.54 and a 200 day moving average price of $40.32. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The business's revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) EPS. Research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the transaction, the chief financial officer owned 421,081 shares of the company's stock, valued at $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Mccormick sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the transaction, the director directly owned 879,979 shares in the company, valued at approximately $38,921,471.17. The trade was a 10.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,202,620 shares of company stock valued at $187,174,970 over the last ninety days. Company insiders own 18.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BBIO shares. Truist Financial started coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 price objective on the stock. HC Wainwright increased their price objective on BridgeBio Pharma from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Piper Sandler upped their target price on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wall Street Zen upgraded BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Wolfe Research assumed coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $63.94.

BridgeBio Pharma Company 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.