WCM Investment Management LLC Sells 1,735 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

WCM Investment Management LLC trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 261,944 shares of the company’s stock after selling 1,735 shares during the quarter. WCM Investment Management LLC owned about 0.14% of BridgeBio Pharma worth $7,156,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Polar Asset Management Partners Inc. acquired a new position in BridgeBio Pharma in the third quarter valued at about $1,286,000. First Turn Management LLC acquired a new position in BridgeBio Pharma during the third quarter valued at approximately $10,178,000. Janus Henderson Group PLC lifted its stake in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at $1,136,000. Finally, Principal Financial Group Inc. increased its stake in shares of BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBIO. Scotiabank upped their price objective 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. Evercore ISI increased their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Monday, December 16th. Bank of America increased 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. Finally, Leerink Partners decreased their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

BridgeBio Pharma Stock Down 2.6 %

NASDAQ BBIO opened at $31.85 on Monday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -13.22 and a beta of 1.07. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $41.04. The stock has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $27.39.

Insider Buying and Selling at BridgeBio Pharma

In other news, 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 sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,492,093 shares of company stock worth $122,029,004. 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.