Nisa Investment Advisors LLC Sells 4,667 Shares of BridgeBio Pharma, Inc. $BBIO

Nisa Investment Advisors LLC reduced its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 14.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 27,437 shares of the company’s stock after selling 4,667 shares during the period. Nisa Investment Advisors LLC’s holdings in BridgeBio Pharma were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the 1st quarter valued at $35,000. GF Fund Management CO. LTD. lifted its position in BridgeBio Pharma by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company’s stock worth $167,000 after buying an additional 871 shares in the last quarter. CWM LLC boosted its stake in shares of BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company’s stock worth $182,000 after buying an additional 598 shares during the last quarter. Finally, LVW Advisors LLC bought a new position in shares of BridgeBio Pharma in the 2nd quarter valued at about $202,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on BBIO. Piper Sandler boosted their price target on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald boosted their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Cowen reaffirmed a “positive” rating on shares of BridgeBio Pharma in a research report on Thursday. Leerink Partners set a $68.00 price objective on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Monday. Finally, TD Cowen boosted their price objective on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Twenty analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $73.05.

Insider Activity

In related news, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the sale, the director owned 916,674 shares in the company, valued at approximately $44,000,352. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the transaction, the chief executive officer directly owned 855,686 shares in the company, valued at $46,874,479.08. This trade represents a 4.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 797,913 shares of company stock valued at $42,347,634. Corporate insiders own 18.20% of the company’s stock.

BridgeBio Pharma Trading Down 1.2%

Shares of NASDAQ BBIO opened at $62.64 on Friday. The business’s 50 day moving average is $53.91 and its 200-day moving average is $45.53. The firm has a market cap of $12.07 billion, a P/E ratio of -14.99 and a beta of 1.36. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $69.48.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The company had revenue of $108.11 million during the quarter, compared to analyst estimates of $107.71 million. BridgeBio Pharma’s quarterly revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.86) earnings per share. Analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

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.