Glenmede Trust Co. NA Has $1.01 Million Holdings in BridgeBio Pharma, Inc. $BBIO

Glenmede Trust Co. NA decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 35.5% in the 1st quarter, HoldingsChannel reports. The fund owned 13,656 shares of the company’s stock after selling 7,511 shares during the period. Glenmede Trust Co. NA’s holdings in BridgeBio Pharma were worth $1,014,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in BridgeBio Pharma by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after buying an additional 502,582 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of BridgeBio Pharma by 139.4% during the first quarter. Hsbc Holdings PLC now owns 32,708 shares of the company’s stock valued at $2,431,000 after buying an additional 19,043 shares during the last quarter. Nan Fung Trinity HK Ltd. bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth about $8,422,000. Assetmark Inc. increased its position in shares of BridgeBio Pharma by 423.7% during the first quarter. Assetmark Inc. now owns 20,790 shares of the company’s stock worth $1,544,000 after acquiring an additional 16,820 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $4,567,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BBIO. Mizuho dropped their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Royal Bank Of Canada began coverage on BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Canaccord Genuity Group initiated coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target for the company. Nineteen 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.33.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $82.80 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $44.10 and a 52 week high of $93.42. The firm has a 50-day moving average price of $75.32 and a two-hundred day moving average price of $72.92. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of -22.14 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last released its 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 firm had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) earnings per share. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.31 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the sale, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at $10,199,724.06. This trade represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the sale, the director owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. 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 a total of 392,117 shares of company stock valued at $29,934,700 in the last ninety days. 14.23% of the stock is owned by corporate insiders.

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.