23,950 Shares in BridgeBio Pharma, Inc. $BBIO Acquired by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,950 shares of the company's stock, valued at approximately $1,783,000.

Several other institutional investors have also recently bought and sold shares of the business. Boone Capital Management LLC acquired a new position in BridgeBio Pharma in the second quarter worth $25,302,000. Freestone Grove Partners LP acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at $188,000. Odyssean LLC acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at $3,055,000. Jupiter Topco LLC bought a new position in shares of BridgeBio Pharma in the second quarter valued at about $1,050,762,000. Finally, EFG International AG bought a new position in shares of BridgeBio Pharma in the second quarter valued at about $6,117,000. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Down 1.4%

Shares of BBIO opened at $75.41 on Friday. BridgeBio Pharma, Inc. has a 12-month low of $48.78 and a 12-month high of $93.42. The firm has a market capitalization of $14.74 billion, a PE ratio of -21.12 and a beta of 0.97. The stock's fifty day simple moving average is $80.65 and its 200-day simple moving average is $73.61.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (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 analyst estimates of $220.91 million. The firm's revenue was up 120.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.95) EPS. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.6 EPS for the current year.

Insider Activity at BridgeBio Pharma

In related news, Director Jennifer E. Cook sold 148,589 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were 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 directly owned 8,383 shares of the company's stock, valued at $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 34,980 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the sale, the chief executive officer directly owned 243,327 shares of the company's stock, valued at approximately $20,081,777.31. This trade represents a 12.57% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 347,343 shares of company stock worth $27,591,000. Insiders own 14.23% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $110.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Canaccord Genuity Group boosted their target price 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. Truist Financial upped their target price on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. UBS Group reiterated a "buy" rating on shares of BridgeBio Pharma in a research report on Wednesday. Finally, Citigroup increased their price target 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 investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $101.53.

About BridgeBio Pharma

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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