Profund Advisors LLC boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 42.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,452 shares of the company’s stock after buying an additional 8,523 shares during the quarter. Profund Advisors LLC’s holdings in BridgeBio Pharma were worth $1,872,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in BridgeBio Pharma by 8.3% in the 3rd quarter. ProShare Advisors LLC now owns 6,953 shares of the company’s stock worth $458,000 after acquiring an additional 532 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of BridgeBio Pharma by 57.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 48,926 shares of the company’s stock worth $3,228,000 after purchasing an additional 17,755 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of BridgeBio Pharma by 5.2% during the third quarter. Motley Fool Asset Management LLC now owns 4,224 shares of the company’s stock worth $278,000 after purchasing an additional 208 shares during the period. North Dakota State Investment Board grew its stake in shares of BridgeBio Pharma by 3.9% in the third quarter. North Dakota State Investment Board now owns 5,177 shares of the company’s stock worth $341,000 after purchasing an additional 196 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in shares of BridgeBio Pharma by 12.6% in the third quarter. Moody Aldrich Partners LLC now owns 3,892 shares of the company’s stock worth $256,000 after purchasing an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.
BridgeBio Pharma Price Performance
Shares of BBIO stock opened at $74.95 on Monday. The business’s fifty day moving average is $70.27 and its 200 day moving average is $72.84. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of -24.65 and a beta of 0.97. BridgeBio Pharma, Inc. has a twelve month low of $60.22 and a twelve month high of $93.42.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.12. The business had revenue of $353.17 million for the quarter, compared to analysts’ expectations of $293.47 million. During the same period last year, the business earned ($0.95) earnings per share. The company’s revenue was up 192.6% on a year-over-year basis. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.65 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have commented on BBIO shares. TD Cowen lowered their price target on BridgeBio Pharma from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial upped their target price on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. UBS Group reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Friday. Weiss Ratings lowered shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, September 25th. Finally, Canaccord Genuity Group raised their target price on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.16.
View Our Latest Research Report on BridgeBio Pharma
Insider Transactions at BridgeBio Pharma
In related news, CEO Neil Kumar sold 34,980 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40. Following the transaction, the chief executive officer owned 243,327 shares in the company, valued at $20,081,777.31. The trade was a 12.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 54,980 shares of company stock valued at $4,417,999. Insiders own 14.23% of the company’s stock.
Key BridgeBio Pharma News
Here are the key news stories impacting BridgeBio Pharma this week:
- Positive Sentiment: Strong Q3 performance: BridgeBio reported third-quarter revenue of $353.2 million, well above the $293.5 million consensus estimate. The company’s loss of $0.42 per share was also narrower than expectations for a $0.54 loss and improved substantially from a $0.95 loss a year earlier. BridgeBio Pharma Q3 earnings report
- Positive Sentiment: Attruby sales accelerated: U.S. Attruby net product revenue reached $253.2 million, increasing approximately $31 million sequentially and $145 million year over year. Revenue also benefited from a one-time $75 million BEYONTTRA sales milestone from Bayer. BridgeBio third-quarter financial results
- Positive Sentiment: Solid financial flexibility: BridgeBio ended September with $1.5 billion in cash, cash equivalents and marketable securities, which management said fully funds all three launches and expansion indications. BridgeBio corporate update
- Positive Sentiment: Morgan Stanley raised its target: The firm increased its price target from $87 to $88 and maintained an “overweight” rating, signaling continued confidence in BBIO’s outlook. Morgan Stanley recommendations
- Negative Sentiment: TD Cowen reduced its target: Although the firm maintained a “buy” rating and still sees substantial upside, it lowered its price target from $110 to $100, tempering the overall analyst optimism. TD Cowen recommendations
About BridgeBio Pharma
BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.
BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.
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