BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 81.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 6,995 shares of the company’s stock after selling 29,739 shares during the period. Assenagon Asset Management S.A.’s holdings in BridgeBio Pharma were worth $216,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BBIO. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after purchasing an additional 1,524,313 shares during the period. Wellington Management Group LLP purchased a new stake in BridgeBio Pharma during the 3rd quarter worth about $37,434,000. Norges Bank purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $46,843,000. UBS Group AG increased its holdings in shares of BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after acquiring an additional 832,940 shares during the last quarter. Finally, Altitude Crest Partners Inc. purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $30,462,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BBIO. Mizuho dropped their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Citigroup increased their price objective on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Cantor Fitzgerald increased their price objective on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. HC Wainwright dropped their price objective on BridgeBio Pharma from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

BridgeBio Pharma Trading Down 5.2 %

Shares of BBIO traded down $1.51 during mid-day trading on Thursday, hitting $27.76. The company’s stock had a trading volume of 1,856,258 shares, compared to its average volume of 1,706,401. The firm has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $32.10. The firm has a market capitalization of $5.19 billion, a P/E ratio of -8.62 and a beta of 1.08. BridgeBio Pharma, Inc. has a 1-year low of $12.75 and a 1-year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. As a group, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.52% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.