Hennion & Walsh Asset Management Inc. Sells 950 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,709 shares of the company’s stock after selling 950 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in BridgeBio Pharma were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Janus Henderson Group PLC lifted its stake in BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company’s stock worth $134,672,000 after purchasing an additional 89,521 shares during the last quarter. Farallon Capital Management LLC lifted its stake in BridgeBio Pharma by 140.1% during the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $38.62 on Friday. The stock has a 50-day moving average of $34.55 and a 200-day moving average of $32.58. The company has a market cap of $7.33 billion, a PE ratio of -13.55 and a beta of 1.15. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.67.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same period in the previous year, the business posted ($0.20) EPS. BridgeBio Pharma’s revenue was down 44.8% compared to the same quarter last year. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the subject of several research analyst reports. Citigroup upped their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, March 24th. Piper Sandler increased their price objective on BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, UBS Group increased their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.09.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 26,156 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $33.33, for a total value of $871,779.48. Following the completion of the sale, the chief executive officer now owns 217,404 shares in the company, valued at approximately $7,246,075.32. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider now owns 13,260,971 shares of the company’s stock, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,392,182 shares of company stock worth $219,161,291. Insiders own 18.20% 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.