BridgeBio Pharma, Inc. $BBIO is Frazier Life Sciences Management L.P.’s 4th Largest Position

Frazier Life Sciences Management L.P. lowered its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,545,557 shares of the company’s stock after selling 299,900 shares during the quarter. BridgeBio Pharma makes up about 7.3% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 4th biggest position. Frazier Life Sciences Management L.P.’s holdings in BridgeBio Pharma were worth $271,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in BridgeBio Pharma during the third quarter worth approximately $31,000. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma during the third quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the first quarter worth approximately $35,000. Huntington National Bank raised its holdings in BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the transaction, the chief executive officer directly owned 575,686 shares of the company’s stock, valued at $39,089,079.40. The trade was a 6.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the transaction, the director directly owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 171,754 shares of company stock valued at $11,914,859. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $66.80 on Friday. The firm’s fifty day simple moving average is $70.22 and its 200-day simple moving average is $72.11. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of -17.86 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12 month low of $38.57 and a 12 month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. BridgeBio Pharma’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.88) earnings per share. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BBIO shares. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Leerink Partners reissued an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a report on Thursday, March 12th. Finally, Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.59.

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.