Moody Aldrich Partners LLC Sells 23,855 Shares of BridgeBio Pharma, Inc. $BBIO

by · The Cerbat Gem

Moody Aldrich Partners LLC reduced its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 25.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 71,580 shares of the company’s stock after selling 23,855 shares during the quarter. Moody Aldrich Partners LLC’s holdings in BridgeBio Pharma were worth $3,718,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at $25,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter worth about $35,000. GAMMA Investing LLC increased its position in shares of BridgeBio Pharma by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after purchasing an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in BridgeBio Pharma by 218.3% in the second quarter. Osaic Holdings Inc. now owns 4,167 shares of the company’s stock valued at $179,000 after buying an additional 2,858 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total value of $2,191,200.00. Following the transaction, the chief executive officer owned 855,686 shares of the company’s stock, valued at approximately $46,874,479.08. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Mccormick sold 198,359 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total value of $13,206,742.22. Following the transaction, the director owned 679,979 shares in the company, valued at approximately $45,273,001.82. This trade represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 587,215 shares of company stock valued at $38,801,501. 18.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, September 12th. TD Cowen raised their price target on BridgeBio Pharma from $60.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Truist Financial reissued a “buy” rating and issued a $80.00 price objective (up previously from $66.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Piper Sandler raised their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company lifted their price target on BridgeBio Pharma from $76.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Twenty-one analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.63.

Check Out Our Latest Stock Analysis on BridgeBio Pharma

BridgeBio Pharma Stock Up 1.3%

BridgeBio Pharma stock opened at $76.49 on Thursday. The business’s 50-day simple moving average is $69.48 and its 200 day simple moving average is $56.19. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of -18.30 and a beta of 1.26. BridgeBio Pharma, Inc. has a 12-month low of $27.32 and a 12-month high of $78.44.

BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. During the same quarter in the previous year, the firm posted ($0.86) EPS. The company’s revenue for the quarter was up 4318.0% on a year-over-year basis. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

BridgeBio Pharma Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report).