GW&K Investment Management LLC Buys New Stake in BridgeBio Pharma, Inc. $BBIO

GW&K Investment Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 3rd quarter, Holdings Channel reports. The firm purchased 598,237 shares of the company’s stock, valued at approximately $31,073,000.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BridgeBio Pharma during the second quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma in the 3rd quarter valued at about $31,000. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma in the 1st quarter valued at about $35,000. First Horizon Corp acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth about $36,000. Finally, Huntington National Bank boosted its stake in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at $9,675,855.22. The trade was a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the sale, the director owned 11,589 shares of the company’s stock, valued at $874,505.94. The trade was a 46.32% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 164,174 shares of company stock valued at $12,036,335. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Stock Down 0.6%

Shares of BBIO opened at $66.17 on Friday. The firm has a market cap of $12.83 billion, a PE ratio of -17.51 and a beta of 1.13. The company’s fifty day moving average is $73.85 and its two-hundred day moving average is $65.11. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. During the same period last year, the firm posted ($1.40) EPS. The firm’s revenue was up 2521.2% on a year-over-year basis. As a group, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BBIO shares. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Oppenheimer lowered their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a research note on Thursday, December 11th. They set an “outperform” rating and a $94.00 price target on the stock. Wells Fargo & Company raised their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, HC Wainwright upped their target price on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Twenty-two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

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.