CW Advisors LLC Invests $9.42 Million in BridgeBio Pharma, Inc. $BBIO

Key Points

• CW Advisors LLC has acquired 272,506 shares of BridgeBio Pharma, valued at approximately $9.4 million, increasing its ownership to about 0.14% of the company.
• Wall Street analysts have a consensus rating of "Buy" for BridgeBio Pharma, with Citigroup raising its price target from $58.00 to $67.00.
• Insider activity shows significant stock sales, with CAO Maricel Apuli selling 1,000 shares and Director Andrea Ellis selling 17,167 shares, indicating potential profit-taking among executives.

CW Advisors LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 272,506 shares of the company's stock, valued at approximately $9,421,000. CW Advisors LLC owned approximately 0.14% of BridgeBio Pharma as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in BridgeBio Pharma by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company's stock worth $40,274,000 after buying an additional 173,729 shares during the last quarter. American Century Companies Inc. grew its stake in BridgeBio Pharma by 1.2% during the first quarter. American Century Companies Inc. now owns 1,027,488 shares of the company's stock worth $35,520,000 after buying an additional 11,760 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in BridgeBio Pharma by 6.2% during the first quarter. E Fund Management Co. Ltd. now owns 18,890 shares of the company's stock worth $653,000 after buying an additional 1,105 shares during the last quarter. Informed Momentum Co LLC bought a new stake in BridgeBio Pharma during the first quarter worth about $3,916,000. Finally, Nuveen LLC bought a new stake in BridgeBio Pharma during the first quarter worth about $14,973,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analysts Set New Price Targets

BBIO has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective on the stock. Oppenheimer upped their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. UBS Group raised their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price objective for the company. Seventeen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $61.35.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded down $1.15 on Friday, hitting $49.08. 1,490,123 shares of the stock were exchanged, compared to its average volume of 2,934,835. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of -12.00 and a beta of 1.23. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $51.86. The company's 50-day moving average price is $45.88 and its 200 day moving average price is $38.53.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The business had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The company's revenue was up 4999.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) earnings per share. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 42,237 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the transaction, the chief financial officer owned 421,081 shares of the company's stock, valued at approximately $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 17,167 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total value of $841,183.00. Following the sale, the director directly owned 18,589 shares in the company, valued at approximately $910,861. This represents a 48.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,092,912 shares of company stock worth $181,359,210. Corporate insiders own 18.20% of the company's stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.