WCM Investment Management LLC Sells 14,253 Shares of BridgeBio Pharma, Inc. $BBIO

WCM Investment Management LLC lessened its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,982 shares of the company’s stock after selling 14,253 shares during the quarter. WCM Investment Management LLC owned about 0.14% of BridgeBio Pharma worth $13,561,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BBIO. Geode Capital Management LLC boosted its position in shares of BridgeBio Pharma by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after purchasing an additional 178,686 shares in the last quarter. Invesco Ltd. raised its stake in BridgeBio Pharma by 27.0% during the second quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock valued at $120,950,000 after buying an additional 594,902 shares during the last quarter. Norges Bank bought a new stake in BridgeBio Pharma in the second quarter worth $84,488,000. Principal Financial Group Inc. boosted its holdings in BridgeBio Pharma by 23.0% in the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after acquiring an additional 236,885 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of BridgeBio Pharma by 6.1% in the second quarter. American Century Companies Inc. now owns 1,090,134 shares of the company’s stock worth $47,072,000 after acquiring an additional 62,646 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrew Lo sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the transaction, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald J. Daniels sold 61,031 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the sale, the director directly owned 16,991 shares of the company’s stock, valued at $1,082,666.52. The trade was a 78.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 387,215 shares of company stock worth $26,255,694. Company insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBIO shares. Wells Fargo & Company lifted their price target on BridgeBio Pharma from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Morgan Stanley started coverage on shares of BridgeBio Pharma in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and set a $71.00 price target (up previously from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Stock Down 0.1%

Shares of BridgeBio Pharma stock opened at $78.18 on Wednesday. BridgeBio Pharma, Inc. has a twelve month low of $28.33 and a twelve month high of $81.32. The company’s 50 day moving average is $75.69 and its 200 day moving average is $61.85. The company has a market cap of $15.07 billion, a price-to-earnings ratio of -18.70 and a beta of 1.13.

BridgeBio Pharma Company 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.