WCM Investment Management LLC Sells 14,253 Shares of BridgeBio Pharma, Inc. $BBIO

WCM Investment Management LLC decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.2% in the third quarter, HoldingsChannel reports. The fund owned 260,982 shares of the company’s stock after selling 14,253 shares during the quarter. WCM Investment Management LLC’s holdings in BridgeBio Pharma were worth $13,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of BBIO. Strs Ohio grew its holdings in BridgeBio Pharma by 1.1% during the third quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $966,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC increased its position in BridgeBio Pharma by 28.6% in the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after buying an additional 228 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of BridgeBio Pharma by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after acquiring an additional 250 shares during the period. Finally, Main Management ETF Advisors LLC grew its stake in shares of BridgeBio Pharma by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after acquiring an additional 372 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Down 0.1%

Shares of BridgeBio Pharma stock opened at $78.18 on Wednesday. The firm has a market cap of $15.07 billion, a PE ratio of -18.70 and a beta of 1.13. The stock has a 50 day moving average of $75.69 and a 200 day moving average of $61.85. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $81.32.

Insider Activity

In related news, Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the sale, the director owned 50,583 shares of the company’s stock, valued at $3,322,797.27. This represents a 52.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Trimarchi sold 16,934 shares of BridgeBio Pharma stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the completion of the transaction, the chief financial officer directly owned 382,830 shares of the company’s stock, valued at $25,442,881.80. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 387,215 shares of company stock worth $26,255,694. 18.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on BBIO shares. The Goldman Sachs Group raised their target price on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Leerink Partners upped their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Piper Sandler lifted their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Sanford C. Bernstein assumed coverage on BridgeBio Pharma in a report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price target on the stock. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.05.

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.