BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 505,949 shares of the company’s stock after selling 17,744 shares during the quarter. Eagle Asset Management Inc.’s holdings in BridgeBio Pharma were worth $30,842,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in BridgeBio Pharma by 1.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,275 shares of the company’s stock valued at $818,000 after buying an additional 217 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in BridgeBio Pharma by 20.5% in the second quarter. Advisor Group Holdings Inc. now owns 2,007 shares of the company’s stock valued at $122,000 after purchasing an additional 341 shares during the last quarter. Grace Capital lifted its position in shares of BridgeBio Pharma by 0.6% in the second quarter. Grace Capital now owns 77,350 shares of the company’s stock valued at $4,715,000 after acquiring an additional 450 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of BridgeBio Pharma by 19.1% in the first quarter. Penserra Capital Management LLC now owns 3,365 shares of the company’s stock valued at $207,000 after acquiring an additional 540 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of BridgeBio Pharma by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 8,438 shares of the company’s stock valued at $514,000 after acquiring an additional 785 shares in the last quarter. 94.88% of the stock is owned by institutional investors and hedge funds.

BBIO opened at $50.18 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $36.20 and a 1 year high of $73.50. The stock has a fifty day moving average price of $52.57 and a 200 day moving average price of $57.03. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of -13.10 and a beta of 0.74. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 4.48.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.31. BridgeBio Pharma had a negative return on equity of 805.16% and a negative net margin of 789.46%. The business had revenue of $54.00 million for the quarter, compared to analyst estimates of $24.93 million. The firm’s revenue was up 5399900.0% compared to the same quarter last year. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.63 earnings per share for the current fiscal year.

In other BridgeBio Pharma news, insider Richard H. Scheller sold 13,777 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $53.23, for a total transaction of $733,349.71. The transaction was disclosed in a filing with the SEC, which is available at this link. 28.30% of the stock is owned by insiders.

A number of equities analysts have recently commented on the company. SVB Leerink cut their price objective on BridgeBio Pharma from $71.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, August 6th. Bank of America upgraded BridgeBio Pharma from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, September 10th. Finally, Zacks Investment Research upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Buy” and a consensus target price of $75.55.

About BridgeBio Pharma

BridgeBio Pharma, Inc engages in identifying and advancing transformative medicines to treat patients who suffer from Mendelian diseases. Its pipeline of development programs includes product candidates ranging from early discovery to late-stage development. The company was founded by Charles Homcy, Frank McCormick, Philip Reilly, and Neil Kumar in 2015 and is headquartered in Palo Alto, CA.

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Institutional Ownership by Quarter for BridgeBio Pharma (NASDAQ:BBIO)

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