BridgeBio Pharma, Inc. $BBIO Shares Sold by Granahan Investment Management LLC

by · The Markets Daily

Granahan Investment Management LLC lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 36.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,805 shares of the company’s stock after selling 59,473 shares during the period. Granahan Investment Management LLC owned approximately 0.05% of BridgeBio Pharma worth $7,787,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. TD Asset Management Inc purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $4,620,000. L & S Advisors Inc purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $877,000. HighVista Strategies LLC raised its stake in shares of BridgeBio Pharma by 21.4% during the third quarter. HighVista Strategies LLC now owns 81,959 shares of the company’s stock valued at $4,257,000 after purchasing an additional 14,460 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of BridgeBio Pharma by 14,211.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after purchasing an additional 987,273 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $789,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 2.0%

Shares of NASDAQ:BBIO opened at $66.64 on Wednesday. The company has a fifty day simple moving average of $69.99 and a 200 day simple moving average of $72.07. The firm has a market cap of $13.05 billion, a PE ratio of -17.82 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12-month low of $39.65 and a 12-month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The company’s revenue was up 66.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.88) EPS. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer owned 535,686 shares of the company’s stock, valued at approximately $36,137,377.56. The trade was a 6.95% 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 have sold 171,754 shares of company stock worth $11,914,859 in the last ninety days. 14.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Leerink Partners restated an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Truist Financial lifted their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Twenty-two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.05.

Read Our Latest Research Report on BBIO

BridgeBio Pharma Company 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.

See Also

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