Fox Run Management L.L.C. Reduces Holdings in BridgeBio Pharma, Inc. $BBIO

Fox Run Management L.L.C. decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 79.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,947 shares of the company’s stock after selling 50,657 shares during the period. Fox Run Management L.L.C.’s holdings in BridgeBio Pharma were worth $672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $25,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. First Horizon Corp purchased a new position in BridgeBio Pharma during the 3rd quarter valued at $36,000. AlphaQuest LLC grew its position in BridgeBio Pharma by 254.3% in the 3rd quarter. AlphaQuest LLC now owns 815 shares of the company’s stock valued at $42,000 after acquiring an additional 585 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in BridgeBio Pharma by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after acquiring an additional 227 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBIO has been the subject of several research analyst reports. Truist Financial lifted their target price on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Barclays initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 28th. They issued an “overweight” rating on the stock. Morgan Stanley lifted their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, HC Wainwright increased their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.50.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $66.48 on Friday. The company has a market cap of $12.89 billion, a PE ratio of -17.59 and a beta of 1.13. The firm’s 50 day moving average price is $74.76 and its 200-day moving average price is $64.69. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. The company’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.40) earnings per share. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the transaction, the chief accounting officer directly owned 130,297 shares in the company, valued at approximately $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the sale, the director owned 11,589 shares in the company, valued at $874,505.94. This represents a 46.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 204,174 shares of company stock worth $15,012,335 over the last ninety days. 18.20% of the stock is currently owned by company insiders.

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.