Engineers Gate Manager LP Sells 205,781 Shares of BridgeBio Pharma, Inc. $BBIO

Engineers Gate Manager LP lowered its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 84.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 37,948 shares of the company’s stock after selling 205,781 shares during the period. Engineers Gate Manager LP’s holdings in BridgeBio Pharma were worth $2,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma in the second quarter worth about $28,000. Allworth Financial LP purchased a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the 1st quarter worth approximately $35,000. Finally, Global Retirement Partners LLC raised its position in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the sale, the chief accounting officer owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director directly owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. The trade was a 94.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 257,103 shares of company stock worth $21,579,211 over the last 90 days. 14.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BBIO. Truist Financial lifted their price target on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Morgan Stanley decreased their price objective on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. UBS Group restated a “buy” rating on shares of BridgeBio Pharma in a report on Wednesday, September 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of BridgeBio Pharma in a research report on Thursday. Finally, Wells Fargo & Company increased their price target on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.61.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $72.44 on Monday. The stock has a market capitalization of $14.16 billion, a PE ratio of -20.29 and a beta of 0.97. BridgeBio Pharma, Inc. has a 52-week low of $48.78 and a 52-week high of $93.42. The company has a 50-day simple moving average of $80.65 and a two-hundred day simple moving average of $73.71.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. The firm’s revenue was up 120.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) EPS. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.64 EPS for the current fiscal year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.