Covestor Ltd Sells 1,811 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Covestor Ltd trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,968 shares of the company’s stock after selling 1,811 shares during the quarter. BridgeBio Pharma accounts for approximately 0.4% of Covestor Ltd’s holdings, making the stock its 26th biggest holding. Covestor Ltd’s holdings in BridgeBio Pharma were worth $576,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares during the period. Avanza Fonder AB acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $181,000. First Bank & Trust purchased a new position in BridgeBio Pharma in the fourth quarter valued at approximately $205,000. Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma in the fourth quarter worth $208,000. Finally, Legato Capital Management LLC acquired a new stake in BridgeBio Pharma in the fourth quarter worth about $210,000. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Andrea Ellis sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $408,600. This trade represents a 71.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,684,739 shares of company stock worth $326,958,651. 24.66% of the stock is owned by insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded down $1.33 during mid-day trading on Thursday, reaching $31.55. The company’s stock had a trading volume of 200,815 shares, compared to its average volume of 2,250,552. The stock has a fifty day moving average of $33.55 and a two-hundred day moving average of $29.67. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $39.47. The firm has a market capitalization of $6.00 billion, a PE ratio of -11.07 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. Analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BBIO has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Evercore ISI increased their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Finally, Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.64.

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.