Lionsbridge Wealth Management LLC Invests $704,000 in BridgeBio Pharma, Inc. $BBIO

Lionsbridge Wealth Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,453 shares of the company’s stock, valued at approximately $704,000.

Several other institutional investors also recently bought and sold shares of the company. Silvant Capital Management LLC purchased a new position in BridgeBio Pharma during the 2nd quarter worth $28,000. Allworth Financial LP acquired a new position in shares of BridgeBio Pharma during the second quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the third quarter worth about $34,000. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the first quarter worth about $35,000. Finally, Farther Finance Advisors LLC lifted its position in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

BBIO opened at $76.57 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $48.78 and a 1 year high of $93.42. The company’s 50 day simple moving average is $80.39 and its 200 day simple moving average is $73.61. The stock has a market capitalization of $14.97 billion, a PE ratio of -21.45 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $220.91 million. The business’s revenue was up 120.4% compared to the same quarter last year. During the same period last year, the business earned ($0.95) earnings per share. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the sale, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. This trade represents a 1.55% 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. Over the last quarter, insiders sold 387,343 shares of company stock worth $30,289,400. 14.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BBIO shares. Weiss Ratings cut BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Bank of America raised their price target on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Citigroup upped their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Morgan Stanley cut their price objective on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.53.

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.