BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,220 shares of the company’s stock after selling 3,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BridgeBio Pharma were worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BBIO. Clear Street Markets LLC acquired a new position in shares of BridgeBio Pharma during the 1st quarter valued at about $33,000. Quantbot Technologies LP increased its position in BridgeBio Pharma by 500.0% during the 1st quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock worth $42,000 after purchasing an additional 3,500 shares in the last quarter. Assetmark Inc. acquired a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $53,000. Sandia Investment Management LP acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $83,000. Finally, Quantamental Technologies LLC acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $104,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $26.83 on Monday. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03. The business has a 50 day simple moving average of $31.39 and a 200 day simple moving average of $31.84. BridgeBio Pharma, Inc. has a 52 week low of $12.75 and a 52 week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The company had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.92) earnings per share. On average, analysts predict that BridgeBio Pharma, Inc. will post -3.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho dropped their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Raymond James assumed coverage on shares of BridgeBio Pharma in a research report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective for the company. Citigroup increased their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.17.

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 2,915 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total value of $110,682.55. Following the completion of the sale, the director now directly owns 1,764 shares in the company, valued at approximately $66,979.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Randal W. Scott sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares in the company, valued at $221,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hannah Valantine sold 2,915 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total value of $110,682.55. Following the transaction, the director now owns 1,764 shares of the company’s stock, valued at $66,979.08. The disclosure for this sale can be found here. 28.52% of the stock is currently owned by company insiders.

BridgeBio Pharma 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.