Commerce Bank purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,076 shares of the company’s stock, valued at approximately $899,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brooklands Fund Management Ltd purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD boosted its stake in shares of BridgeBio Pharma by 144.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the period. Janus Henderson Group PLC boosted its stake in shares of BridgeBio Pharma by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after purchasing an additional 2,259,378 shares during the period. Norges Bank acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $116,802,000. Finally, Wellington Management Group LLP grew its holdings in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after purchasing an additional 1,329,537 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on BBIO shares. Morgan Stanley dropped their price target on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Bank of America upped their price objective on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, August 11th. Piper Sandler lifted their target price on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.79.
Insider Transactions at BridgeBio Pharma
In other BridgeBio Pharma news, Director Hannah Valantine sold 2,808 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total transaction of $190,944.00. Following the sale, the director directly owned 11,455 shares of the company’s stock, valued at approximately $778,940. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director directly owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 387,343 shares of company stock valued at $30,289,400. Company insiders own 14.23% of the company’s stock.
BridgeBio Pharma Stock Down 1.3%
NASDAQ:BBIO opened at $79.37 on Thursday. The business’s 50 day moving average is $79.62 and its two-hundred day moving average is $73.45. BridgeBio Pharma, Inc. has a 52 week low of $48.78 and a 52 week high of $93.42. The company has a market cap of $15.52 billion, a PE ratio of -22.23 and a beta of 0.96.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. During the same period last year, the firm posted ($0.95) EPS. The company’s quarterly revenue was up 120.4% on a year-over-year basis. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.62 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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