Emerald Mutual Fund Advisers Trust Trims Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Emerald Mutual Fund Advisers Trust trimmed its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 498,254 shares of the company’s stock after selling 2,000 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in BridgeBio Pharma were worth $12,621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC lifted its position in BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares during the last quarter. Bfsg LLC lifted its position in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. Assetmark Inc. boosted its stake in BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the first quarter valued at about $34,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BBIO shares. HC Wainwright restated a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, July 1st. Evercore ISI dropped their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Piper Sandler began coverage on BridgeBio Pharma in a report on Wednesday. They issued an “overweight” rating and a $46.00 price objective on the stock. Finally, Bank of America lowered their target price on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $30.70 on Friday. The business has a 50-day simple moving average of $26.18 and a 200-day simple moving average of $27.63. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The company has a market cap of $5.74 billion, a PE ratio of -9.53 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The firm’s revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.46 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Corporate insiders own 24.66% 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.