Vontobel Holding Ltd. Reduces Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Vontobel Holding Ltd. decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 53.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,811 shares of the company's stock after selling 35,546 shares during the period. Vontobel Holding Ltd.'s holdings in BridgeBio Pharma were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BBIO. Bank of New York Mellon Corp grew its stake in shares of BridgeBio Pharma by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 502,713 shares of the company's stock valued at $5,102,000 after purchasing an additional 15,368 shares during the last quarter. MetLife Investment Management LLC boosted its stake in BridgeBio Pharma by 52.5% in the first quarter. MetLife Investment Management LLC now owns 58,444 shares of the company's stock valued at $593,000 after acquiring an additional 20,117 shares during the last quarter. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,424,112 shares of the company's stock valued at $95,655,000 after acquiring an additional 92,429 shares during the last quarter. XTX Topco Ltd bought a new position in BridgeBio Pharma in the first quarter valued at approximately $153,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in BridgeBio Pharma by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,079,082 shares of the company's stock valued at $10,953,000 after acquiring an additional 33,792 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BBIO shares. HC Wainwright reiterated a "buy" rating and issued a $47.00 target price on shares of BridgeBio Pharma in a report on Monday, March 4th. Citigroup raised their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Mizuho dropped their price objective on shares of BridgeBio Pharma from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, March 5th. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a report on Wednesday, January 31st. They set a "market perform" rating and a $37.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $47.82.

BridgeBio Pharma Trading Down 0.8 %

Shares of BBIO traded down $0.21 during midday trading on Friday, reaching $24.74. The stock had a trading volume of 2,298,719 shares, compared to its average volume of 1,464,304. The firm has a 50 day simple moving average of $30.52 and a 200-day simple moving average of $31.82. BridgeBio Pharma, Inc. has a one year low of $12.75 and a one year high of $44.32. The firm has a market cap of $4.35 billion, a PE ratio of -6.28 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The company had revenue of $1.74 million for the quarter, compared to analyst estimates of $4.78 million. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) earnings per share. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares of the company's stock, valued at approximately $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 28.52% of the company's stock.

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.