17,781 BridgeBio Pharma, Inc. $BBIO Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 54.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,057 shares of the company’s stock after selling 17,781 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in BridgeBio Pharma were worth $991,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new stake in BridgeBio Pharma during the second quarter valued at $1,050,762,000. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after buying an additional 2,178,556 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $145,663,000. Pictet Asset Management Holding SA lifted its holdings in shares of BridgeBio Pharma by 16.8% in the third quarter. Pictet Asset Management Holding SA now owns 1,690,829 shares of the company’s stock valued at $111,290,000 after buying an additional 242,703 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in BridgeBio Pharma by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock valued at $98,797,000 after acquiring an additional 16,112 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $74.29 on Monday. The stock’s fifty day moving average price is $69.76 and its two-hundred day moving average price is $72.78. The company has a market cap of $14.47 billion, a price-to-earnings ratio of -24.44 and a beta of 0.97. BridgeBio Pharma, Inc. has a 52-week low of $60.55 and a 52-week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.12. The business had revenue of $353.17 million for the quarter, compared to the consensus estimate of $293.47 million. During the same quarter in the previous year, the firm posted ($0.95) EPS. The business’s revenue was up 192.6% on a year-over-year basis. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total transaction of $145,700.00. Following the completion of the transaction, the chief accounting officer owned 120,687 shares in the company, valued at approximately $8,792,047.95. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 34,980 shares of BridgeBio Pharma stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the transaction, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at approximately $20,081,777.31. This trade represents a 12.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,980 shares of company stock valued at $4,563,699 over the last ninety days. Company insiders own 14.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BBIO. Mizuho lifted their price target on BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Truist Financial lifted their price objective on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays decreased their target price on shares of BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Bank of America raised their price objective on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, October 5th. Nineteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $104.26.

BridgeBio Pharma Profile

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas.

Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.

BridgeBio is headquartered in Palo Alto, California.