BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Position Reduced by Diversified Trust Co

Diversified Trust Co reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,827 shares of the company’s stock after selling 8,945 shares during the period. Diversified Trust Co’s holdings in BridgeBio Pharma were worth $764,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC increased its stake in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after purchasing an additional 555 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares during the period. Amalgamated Bank grew its position in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after buying an additional 962 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in BridgeBio Pharma by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after acquiring an additional 1,214 shares during the period. Finally, Quarry LP lifted its holdings in BridgeBio Pharma by 27.1% in the second quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $190,000 after acquiring an additional 1,600 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BBIO has been the topic of a number of research reports. Scotiabank increased their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Leerink Partners lowered their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Finally, Evercore ISI upped their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $29.45 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $41.04. The stock has a fifty day moving average price of $26.74 and a two-hundred day moving average price of $26.13. The firm has a market cap of $5.57 billion, a P/E ratio of -12.22 and a beta of 1.05.

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.