BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,769 shares of the company’s stock after selling 1,326 shares during the period. E Fund Management Co. Ltd.’s holdings in BridgeBio Pharma were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in BBIO. Charles Schwab Investment Management Inc. grew its holdings in shares of BridgeBio Pharma by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,220 shares of the company’s stock worth $45,344,000 after purchasing an additional 66,945 shares during the period. Victory Capital Management Inc. raised its stake in shares of BridgeBio Pharma by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 459,569 shares of the company’s stock valued at $18,553,000 after acquiring an additional 24,156 shares during the period. Certuity LLC acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $258,000. Sargent Investment Group LLC purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $213,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in BridgeBio Pharma by 5.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 86,772 shares of the company’s stock valued at $3,503,000 after purchasing an additional 4,588 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Down 0.3 %

Shares of BBIO traded down $0.09 during trading hours on Wednesday, reaching $27.70. The company had a trading volume of 732,504 shares, compared to its average volume of 1,713,256. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of -8.60 and a beta of 1.08. BridgeBio Pharma, Inc. has a 12-month low of $12.75 and a 12-month high of $44.32. The firm has a 50 day simple moving average of $28.30 and a 200-day simple moving average of $31.87.

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

Analysts Set New Price Targets

Several research analysts have recently commented on BBIO shares. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a report on Monday, March 4th. Mizuho decreased their price target 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 started coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Cantor Fitzgerald boosted their target price on BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.82.

Insider Activity

In related news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the sale, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 28.52% of the company’s stock.

About BridgeBio Pharma

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.