Public Employees Retirement System of Ohio Acquires New Shares in BridgeBio Pharma, Inc. $BBIO

Public Employees Retirement System of Ohio purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 48,191 shares of the company’s stock, valued at approximately $3,589,000.

Other institutional investors have also made changes to their positions in the company. Silvant Capital Management LLC bought a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $28,000. Allworth Financial LP bought a new stake in BridgeBio Pharma in the second quarter worth approximately $31,000. Global Retirement Partners LLC increased its stake in shares of 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 purchasing an additional 372 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 245 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Piper Sandler increased their price objective on BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Weiss Ratings lowered BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Citigroup lifted their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.53.

BridgeBio Pharma Trading Down 1.4%

BBIO opened at $75.41 on Friday. The business has a 50 day moving average of $80.65 and a 200-day moving average of $73.61. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of -21.12 and a beta of 0.97. BridgeBio Pharma, Inc. has a 1-year low of $48.78 and a 1-year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. The company’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.95) earnings per share. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.6 EPS for the current year.

Insider Buying and Selling

In other news, 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 transaction of $160,120.00. Following the transaction, the chief accounting officer owned 127,401 shares in the company, valued at approximately $10,199,724.06. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $68.57, for a total transaction of $150,579.72. Following the transaction, the director directly owned 9,259 shares of the company’s stock, valued at $634,889.63. This represents a 19.17% 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. Over the last ninety days, insiders sold 347,343 shares of company stock worth $27,591,000. 14.23% of the stock is currently owned by corporate 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.