TD Asset Management Inc increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 62.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 144,180 shares of the company’s stock after purchasing an additional 55,230 shares during the period. TD Asset Management Inc owned approximately 0.07% of BridgeBio Pharma worth $11,028,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in BBIO. Norges Bank purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $116,802,000. Invesco Ltd. boosted its position in shares of BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after purchasing an additional 1,127,592 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after purchasing an additional 987,273 shares during the period. Polar Capital Holdings Plc purchased a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $50,956,000. Finally, Wellington Management Group LLP boosted its position in shares of BridgeBio Pharma by 1,698.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock worth $52,937,000 after purchasing an additional 962,525 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.
Insider Activity
In other news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares in the company, valued at approximately $36,137,377.56. This trade represents a 6.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 211,754 shares of company stock valued at $14,664,059 over the last quarter. Company insiders own 14.23% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Research Report on BridgeBio Pharma
BridgeBio Pharma Stock Down 0.4%
Shares of BBIO stock opened at $67.37 on Tuesday. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The stock has a market capitalization of $13.20 billion, a PE ratio of -18.01 and a beta of 0.98. The firm has a 50 day moving average of $70.59 and a two-hundred day moving average of $72.12.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the company earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts expect that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.
BridgeBio Pharma Company Profile
BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.
BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.
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