Moody Aldrich Partners LLC Cuts Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Moody Aldrich Partners LLC decreased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,684 shares of the company’s stock after selling 23,825 shares during the period. Moody Aldrich Partners LLC owned approximately 0.05% of BridgeBio Pharma worth $2,735,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in BridgeBio Pharma in the third quarter worth about $57,000. CWM LLC increased its holdings in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the period. Advisors Asset Management Inc. grew its holdings in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. Amalgamated Bank grew its holdings in BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in BridgeBio Pharma by 17.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 1.0 %

NASDAQ BBIO opened at $36.31 on Wednesday. The company’s fifty day simple moving average is $29.09 and its 200-day simple moving average is $26.97. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $41.04. The stock has a market cap of $6.86 billion, a P/E ratio of -15.07 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Leerink Partners cut their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America upped their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank upped their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Finally, Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company 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 company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by corporate insiders.

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.