BridgeBio Pharma, Inc. $BBIO Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,750 shares of the company’s stock after selling 11,500 shares during the quarter. Gabelli Funds LLC’s holdings in BridgeBio Pharma were worth $4,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the first quarter valued at about $35,000. First Trust Advisors LP boosted its position in shares of BridgeBio Pharma by 200.4% in the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after buying an additional 175,918 shares during the period. Baird Financial Group Inc. lifted its stake in shares of BridgeBio Pharma by 1.8% in the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after acquiring an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of BridgeBio Pharma in the second quarter worth about $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BridgeBio Pharma by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after acquiring an additional 2,206 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the transaction, the chief executive officer owned 575,686 shares in the company, valued at approximately $39,089,079.40. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the transaction, the director directly owned 11,589 shares in the company, valued at approximately $778,201.35. This represents a 46.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 210,572 shares of company stock valued at $14,364,492. Corporate insiders own 14.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BBIO. Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective on the stock. Truist Financial increased their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company increased their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Twenty-three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.90.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $68.22 on Thursday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of -18.24 and a beta of 1.02. BridgeBio Pharma, Inc. has a one year low of $31.77 and a one year high of $84.94. The company’s fifty day moving average price is $71.43 and its two-hundred day moving average price is $71.83.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. The business’s revenue was up 66.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.88) earnings per share. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.