Fox Run Management L.L.C. Decreases Position in BridgeBio Pharma, Inc. $BBIO

Fox Run Management L.L.C. trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 79.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,947 shares of the company’s stock after selling 50,657 shares during the quarter. Fox Run Management L.L.C.’s holdings in BridgeBio Pharma were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBIO. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter worth about $35,000. Envestnet Asset Management Inc. boosted its stake in BridgeBio Pharma by 204.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 39,487 shares of the company’s stock worth $1,705,000 after purchasing an additional 26,500 shares in the last quarter. Teacher Retirement System of Texas grew its position in BridgeBio Pharma by 8.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 35,817 shares of the company’s stock worth $1,547,000 after purchasing an additional 2,759 shares during the last quarter. New York Life Investment Management LLC acquired a new position in BridgeBio Pharma during the 2nd quarter valued at approximately $548,000. Finally, Bank of Montreal Can increased its stake in BridgeBio Pharma by 6.0% during the 2nd quarter. Bank of Montreal Can now owns 9,865 shares of the company’s stock valued at $426,000 after purchasing an additional 556 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Down 1.7%

Shares of BBIO opened at $66.48 on Friday. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of -17.59 and a beta of 1.13. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94. The stock’s 50-day moving average price is $74.76 and its 200-day moving average price is $64.69.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to the consensus estimate of $150.71 million. The company’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.40) earnings per share. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,600 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total value of $1,016,192.00. Following the completion of the transaction, the chief financial officer owned 336,585 shares in the company, valued at approximately $25,149,631.20. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the sale, the chief accounting officer directly owned 130,297 shares in the company, valued at approximately $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 204,174 shares of company stock valued at $15,012,335. 18.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Truist Financial boosted their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Wells Fargo & Company lifted their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

BridgeBio Pharma Company Profile

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.