Emerald Advisers LLC Sells 20,403 Shares of BridgeBio Pharma, Inc. $BBIO

Emerald Advisers LLC lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 515,361 shares of the company’s stock after selling 20,403 shares during the quarter. BridgeBio Pharma accounts for about 1.2% of Emerald Advisers LLC’s investment portfolio, making the stock its 20th largest position. Emerald Advisers LLC’s holdings in BridgeBio Pharma were worth $38,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in BridgeBio Pharma by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock valued at $98,797,000 after acquiring an additional 16,112 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of BridgeBio Pharma by 7.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,343 shares of the company’s stock valued at $2,253,000 after acquiring an additional 2,132 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of BridgeBio Pharma during the first quarter valued at $303,000. Fifth Third Bancorp acquired a new stake in shares of BridgeBio Pharma in the 1st quarter valued at $3,693,000. Finally, Hsbc Holdings PLC boosted its stake in shares of BridgeBio Pharma by 139.4% in the 1st quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock valued at $2,431,000 after purchasing an additional 19,043 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBIO. Morgan Stanley increased their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Citigroup began coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target on the stock. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective on the stock. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Mizuho cut their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $94.63.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction 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 ownership of the stock. The sale 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 the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the sale, the director directly owned 8,383 shares in the company, valued at $742,230.82. This trade represents a 94.66% decrease in their ownership of the stock. 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 90 days, insiders sold 432,117 shares of company stock valued at $32,633,740. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $83.08 on Tuesday. BridgeBio Pharma, Inc. has a twelve month low of $42.09 and a twelve month high of $93.42. The firm has a market cap of $16.27 billion, a PE ratio of -22.21 and a beta of 0.95. The business has a fifty day moving average of $70.00 and a 200-day moving average of $72.14.

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 company had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter last year, the business posted ($0.88) EPS. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -2.3 EPS for the current fiscal year.

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.