Two Sigma Securities LLC Acquires New Holdings in BridgeBio Pharma, Inc. $BBIO

Two Sigma Securities LLC bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, Holdings Channel.com reports. The institutional investor bought 17,689 shares of the company’s stock, valued at approximately $1,317,000.

Several other institutional investors also recently modified their holdings of BBIO. Silvant Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the 2nd quarter valued at about $28,000. Allworth Financial LP purchased a new stake in BridgeBio Pharma during the 2nd quarter valued at about $31,000. Global Retirement Partners LLC grew its position in BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Farther Finance Advisors LLC grew its position in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in BridgeBio Pharma in the 4th quarter worth approximately $41,000. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $76.59 on Tuesday. BridgeBio Pharma, Inc. has a one year low of $48.78 and a one year high of $93.42. The stock has a market capitalization of $14.97 billion, a PE ratio of -21.45 and a beta of 0.96. The business’s fifty day moving average is $80.23 and its 200 day moving average is $73.59.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. BridgeBio Pharma’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.95) earnings per share. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BBIO shares. JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. TD Cowen lifted their price target on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group boosted their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings cut shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley decreased their target price on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.79.

Insider Activity

In related news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction that occurred 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 owned 22,579 shares of the company’s stock, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the completion of the transaction, the chief accounting officer owned 127,401 shares of the company’s stock, valued at $10,199,724.06. The trade was a 1.55% 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 have sold a total of 387,343 shares of company stock valued at $30,289,400 in the last three months. 14.23% of the stock is currently owned by insiders.

BridgeBio Pharma 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.