BridgeBio Pharma, Inc. $BBIO is Frazier Life Sciences Management L.P.’s 4th Largest Position

Frazier Life Sciences Management L.P. lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,545,557 shares of the company’s stock after selling 299,900 shares during the quarter. BridgeBio Pharma accounts for about 7.3% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 4th biggest holding. Frazier Life Sciences Management L.P. owned approximately 1.84% of BridgeBio Pharma worth $271,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its stake in BridgeBio Pharma by 4.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock worth $396,000 after buying an additional 244 shares during the period. Farther Finance Advisors LLC boosted its stake in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in BridgeBio Pharma by 0.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock worth $3,970,000 after buying an additional 246 shares during the period. CWM LLC boosted its stake in BridgeBio Pharma by 4.3% during the fourth quarter. CWM LLC now owns 6,444 shares of the company’s stock worth $493,000 after buying an additional 265 shares during the period. Finally, Xponance LLC boosted its stake in BridgeBio Pharma by 2.2% during the fourth quarter. Xponance LLC now owns 12,536 shares of the company’s stock worth $959,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity

In related news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the completion of the transaction, the chief executive officer owned 575,686 shares of the company’s stock, valued at $39,089,079.40. This represents a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 171,754 shares of company stock worth $11,914,859 over the last three months. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $66.80 on Friday. The firm has a 50 day simple moving average of $70.22 and a 200-day simple moving average of $72.11. BridgeBio Pharma, Inc. has a one year low of $38.57 and a one year high of $84.94. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of -17.86 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter last year, the business posted ($0.88) earnings per share. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Truist Financial raised their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citigroup initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price objective for the company. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Leerink Partners reissued an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Twenty-three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $89.59.

About BridgeBio Pharma

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.