University of Texas Texas AM Investment Management Co. trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 54.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,057 shares of the company’s stock after selling 17,781 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in BridgeBio Pharma were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought and sold shares of the company. Jupiter Topco LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $1,050,762,000. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 19.8% in the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after acquiring an additional 2,178,556 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in BridgeBio Pharma during the second quarter valued at about $145,663,000. Primecap Management Co. CA purchased a new stake in BridgeBio Pharma in the second quarter worth $75,670,000. Finally, Squarepoint Ops LLC increased its stake in shares of BridgeBio Pharma by 114.2% in the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock worth $88,760,000 after purchasing an additional 635,408 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Barclays lowered their price target on BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Citigroup reduced their target price on BridgeBio Pharma from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Morgan Stanley upped their price objective on shares of BridgeBio Pharma from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Bank of America raised their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, TD Cowen cut their target price on shares of BridgeBio Pharma from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Nineteen 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.26.
View Our Latest Research Report on BridgeBio Pharma
BridgeBio Pharma Price Performance
Shares of BBIO stock opened at $74.29 on Monday. The stock has a market cap of $14.47 billion, a price-to-earnings ratio of -24.44 and a beta of 0.97. The business’s fifty day moving average is $69.76 and its 200 day moving average is $72.78. BridgeBio Pharma, Inc. has a twelve month low of $60.55 and a twelve month high of $93.42.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to the consensus estimate of $293.47 million. BridgeBio Pharma’s revenue for the quarter was up 192.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.95) EPS. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.55 earnings per share for the current fiscal year.
Insider Transactions at BridgeBio Pharma
In other news, CEO Neil Kumar sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $69.08, for a total value of $690,800.00. Following the sale, the chief executive officer directly owned 495,686 shares of the company’s stock, valued at $34,241,988.88. This represents a 1.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total transaction of $145,700.00. Following the completion of the transaction, the chief accounting officer owned 120,687 shares of the company’s stock, valued at approximately $8,792,047.95. The trade was a 1.63% 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. Insiders sold a total of 56,980 shares of company stock worth $4,563,699 over the last ninety days. Insiders own 14.23% of the company’s stock.
BridgeBio Pharma Company Profile
BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas.
Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.
BridgeBio is headquartered in Palo Alto, California.
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