BridgeBio Pharma, Inc. $BBIO Stock Holdings Reduced by Privium Fund Management B.V.

Privium Fund Management B.V. cut its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 73.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 89,151 shares of the company’s stock after selling 250,999 shares during the quarter. BridgeBio Pharma makes up 1.1% of Privium Fund Management B.V.’s investment portfolio, making the stock its 21st biggest position. Privium Fund Management B.V.’s holdings in BridgeBio Pharma were worth $5,866,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BBIO. Silvant Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at $28,000. Allworth Financial LP bought a new position in shares of BridgeBio Pharma during the 2nd quarter valued at $31,000. Root Financial Partners LLC bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. raised its position in BridgeBio Pharma by 55.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock worth $29,000 after purchasing an additional 157 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BridgeBio Pharma in the 2nd quarter worth $44,000. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BBIO shares. UBS Group reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Friday, October 30th. Weiss Ratings downgraded BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, September 25th. Citigroup lowered their target price on BridgeBio Pharma from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. TD Cowen dropped their target price on BridgeBio Pharma from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Canaccord Genuity Group raised their price target on BridgeBio Pharma from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.26.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.02 during mid-day trading on Friday, reaching $74.29. 3,157,589 shares of the company’s stock traded hands, compared to its average volume of 2,854,998. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of -24.44 and a beta of 0.97. The company has a 50 day moving average price of $69.76 and a 200-day moving average price of $72.78. BridgeBio Pharma, Inc. has a 12-month low of $60.55 and a 12-month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.12. The company had revenue of $353.17 million during the quarter, compared to the consensus estimate of $293.47 million. During the same quarter last year, the firm earned ($0.95) EPS. The business’s revenue was up 192.6% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -2.55 EPS for the current year.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 34,980 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the transaction, the chief executive officer owned 243,327 shares in the company, valued at $20,081,777.31. This trade represents a 12.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $72.85, for a total value of $145,700.00. Following the transaction, the chief accounting officer directly owned 120,687 shares of the company’s stock, valued at $8,792,047.95. This represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,980 shares of company stock valued at $4,563,699 in the last three months. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.