13,665 Shares in BridgeBio Pharma, Inc. $BBIO Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC disclosed a new fourth-quarter stake in BridgeBio Pharma, buying 13,665 shares worth about $1.05 million.
• Insider selling has been notable, including sales by CFO Thomas Trimarchi and Director Andrea Ellis, with insiders selling 432,117 shares worth about $32.6 million over the last 90 days.
• Analysts remain broadly upbeat on BBIO, with 20 Buy ratings versus 2 Holds and 1 Sell, and a consensus Moderate Buy rating with an average target price of $94.63.

Hsbc Holdings PLC bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,665 shares of the company's stock, valued at approximately $1,050,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. First Trust Advisors LP lifted its holdings in BridgeBio Pharma by 200.4% in the second quarter. First Trust Advisors LP now owns 263,693 shares of the company's stock valued at $11,386,000 after acquiring an additional 175,918 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in BridgeBio Pharma by 1.8% in the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company's stock valued at $1,816,000 after acquiring 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 second quarter worth approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in BridgeBio Pharma by 2.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company's stock worth $4,132,000 after acquiring an additional 2,206 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the transaction, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the business's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 432,117 shares of company stock worth $32,633,740 over the last 90 days. Company insiders own 14.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BBIO shares. Citigroup began coverage on BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 target price on the stock. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday. Truist Financial upped their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Mizuho reduced their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.63.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $83.08 on Tuesday. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of -22.21 and a beta of 0.95. The business has a 50-day moving average of $70.00 and a 200 day moving average of $72.14. BridgeBio Pharma, Inc. has a 12 month low of $42.09 and a 12 month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the previous year, the business earned ($0.88) EPS. BridgeBio Pharma's revenue for the quarter was up 66.8% on a year-over-year basis. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current year.

Key Headlines Impacting BridgeBio Pharma

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: HC Wainwright raised its price target on BridgeBio Pharma to $120 from $110 and reiterated a buy rating, signaling confidence in roughly 44% upside from recent levels. HC Wainwright Raises PT on BridgeBio Pharma
• Positive Sentiment: RBC Capital also reaffirmed its buy rating, adding to the bullish analyst tone around BBIO. RBC Reaffirms Buy Rating
• Positive Sentiment: Investors are also focusing on BridgeBio’s commercial momentum and pipeline progress, including strong Attruby sales and upcoming NDA activity that could expand the company’s growth prospects. BridgeBio Pipeline and Attruby Commentary
• Neutral Sentiment: A phase 3 setback for Ionis Pharmaceuticals was viewed as indirectly favorable for BridgeBio and some other biotech names, but the impact on BBIO itself appears more sentiment-driven than fundamental. Biotech Phase 3 Failure Article
• Negative Sentiment: Director Jennifer E. Cook sold 148,589 shares for about $13.2 million, a large reduction in ownership, which can raise concern among investors even though it was done under a Rule 10b5-1 plan. Jennifer E. Cook Insider Sale
• Negative Sentiment: Director Andrea Ellis also sold 17,167 shares, adding to the insider-selling narrative around BridgeBio Pharma. Andrea Ellis Insider Sale

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.

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