Wealth Management Associates Inc. Sells 480 Shares of BridgeBio Pharma, Inc. $BBIO

Wealth Management Associates Inc. lowered its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,500 shares of the company’s stock after selling 480 shares during the period. Wealth Management Associates Inc.’s holdings in BridgeBio Pharma were worth $367,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BBIO. GAMMA Investing LLC increased its position in shares of 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. Cambridge Investment Research Advisors Inc. increased its position in shares of BridgeBio Pharma by 29.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock worth $1,065,000 after purchasing an additional 6,997 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of BridgeBio Pharma in the first quarter worth $251,000. First Bank & Trust grew its position in BridgeBio Pharma by 13.7% in the first quarter. First Bank & Trust now owns 8,493 shares of the company’s stock valued at $294,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in BridgeBio Pharma by 9.3% in the first quarter. Principal Financial Group Inc. now owns 1,148,292 shares of the company’s stock valued at $39,696,000 after acquiring an additional 98,153 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Charles J. Homcy sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the transaction, the director directly owned 966,674 shares of the company’s stock, valued at approximately $44,515,337.70. The trade was a 20.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Ellis sold 17,167 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $841,183.00. Following the completion of the transaction, the director directly owned 18,589 shares in the company, valued at approximately $910,861. This trade represents a 48.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 597,913 shares of company stock valued at $29,034,227. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $64.50 on Wednesday. The stock’s 50 day moving average is $53.02 and its 200 day moving average is $44.99. The firm has a market cap of $12.33 billion, a P/E ratio of -15.77 and a beta of 1.36. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $65.00.

BridgeBio Pharma (NASDAQ:BBIO) last posted 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 the consensus estimate of $98.46 million. BridgeBio Pharma’s revenue for the quarter was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Leerink Partners set a $68.00 target price on BridgeBio Pharma and gave the company an “outperform” rating in a research report on Monday. Scotiabank boosted their price target on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Citigroup boosted their price target on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, HC Wainwright boosted their price target on BridgeBio Pharma from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

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.