Total Clarity Wealth Management Inc. raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 133.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 13,682 shares of the company’s stock after acquiring an additional 7,821 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in BridgeBio Pharma were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $4,620,000. HighVista Strategies LLC boosted its holdings in BridgeBio Pharma by 21.4% in the 3rd quarter. HighVista Strategies LLC now owns 81,959 shares of the company’s stock worth $4,257,000 after buying an additional 14,460 shares during the period. Central Pacific Bank Trust Division purchased a new position in BridgeBio Pharma in the 4th quarter valued at approximately $789,000. Allspring Global Investments Holdings LLC grew its stake in BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after buying an additional 987,273 shares in the last quarter. Finally, Okabena Investment Services Inc. bought a new stake in BridgeBio Pharma during the 3rd quarter valued at $816,000. 99.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on BBIO. Oppenheimer dropped their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Truist Financial boosted their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of BridgeBio Pharma in a report on Thursday, May 28th. Finally, Mizuho cut their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Twenty-two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.05.
Insider Activity
In related news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the completion of the transaction, the chief accounting officer directly owned 134,115 shares in the company, valued at approximately $9,599,951.70. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of BridgeBio Pharma stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 261,994 shares of company stock worth $17,926,648. Corporate insiders own 14.23% of the company’s stock.
BridgeBio Pharma Trading Up 4.0%
BBIO stock opened at $68.92 on Tuesday. The company’s 50 day moving average is $69.49 and its 200 day moving average is $71.94. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of -18.43 and a beta of 0.98. BridgeBio Pharma, Inc. has a 1-year low of $41.30 and a 1-year high of $84.94.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period in the previous year, the firm posted ($0.88) EPS. BridgeBio Pharma’s revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.29 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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