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

WCM Investment Management LLC trimmed its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,944 shares of the company’s stock after selling 1,735 shares during the period. WCM Investment Management LLC’s holdings in BridgeBio Pharma were worth $7,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of BridgeBio Pharma by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 40,073 shares of the company’s stock worth $1,100,000 after acquiring an additional 3,908 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in BridgeBio Pharma during the 4th quarter worth approximately $392,000. Moss Adams Wealth Advisors LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth approximately $208,000. Avanza Fonder AB bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $181,000. Finally, Principal Financial Group Inc. boosted its position in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after buying an additional 19,978 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BBIO shares. HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Leerink Partners decreased their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Scotiabank raised their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $31.85 on Monday. The stock has a market capitalization of $6.02 billion, a P/E ratio of -13.22 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $41.04. The stock’s 50-day simple moving average is $30.64 and its 200 day simple moving average is $27.39.

Insider Activity

In other news, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,492,093 shares of company stock valued at $122,029,004 over the last quarter. Company insiders own 24.66% of the company’s stock.

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.