First Trust Advisors LP Raises Holdings in BridgeBio Pharma, Inc. $BBIO

First Trust Advisors LP grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 20.7% in the first quarter, Holdings Channel reports. The firm owned 339,907 shares of the company’s stock after buying an additional 58,221 shares during the quarter. First Trust Advisors LP’s holdings in BridgeBio Pharma were worth $25,241,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the first quarter valued at $35,000. Baird Financial Group Inc. raised its position in BridgeBio Pharma by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after buying an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in BridgeBio Pharma in the 2nd quarter worth about $1,650,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BridgeBio Pharma by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after acquiring an additional 2,206 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in BridgeBio Pharma by 11.6% during the 2nd quarter. Raymond James Financial Inc. now owns 82,095 shares of the company’s stock valued at $3,545,000 after acquiring an additional 8,503 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Mizuho dropped their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. HC Wainwright lifted their target price on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Citigroup boosted their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Twenty 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.21.

BridgeBio Pharma Stock Up 1.7%

BridgeBio Pharma stock opened at $85.55 on Wednesday. BridgeBio Pharma, Inc. has a 52-week low of $42.09 and a 52-week high of $93.42. The company has a market cap of $16.72 billion, a P/E ratio of -22.87 and a beta of 0.95. The business has a 50-day simple moving average of $73.46 and a two-hundred day simple moving average of $72.67.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.88) EPS. Research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the transaction, the director owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at approximately $36,137,377.56. The trade was a 6.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 432,117 shares of company stock valued at $32,633,740 in the last quarter. Insiders own 14.23% of the company’s stock.

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.