9,830 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. has acquired 9,830 shares of BridgeBio Pharma, valued at approximately $424,000, indicative of growing institutional interest in the company.
• Insider sales have occurred, with Director Andrea Ellis selling 17,167 shares and CEO Neil Kumar selling 40,000 shares, reflecting a 48.01% and 4.47% decrease in their respective holdings.
• BridgeBio Pharma reported a 4999.9% year-over-year revenue increase for the recent quarter, despite posting an EPS loss of ($0.95), which missed analysts' expectations.

Vontobel Holding Ltd. purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,830 shares of the company's stock, valued at approximately $424,000.

A number of other institutional investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS lifted its position in BridgeBio Pharma by 20.1% in the second quarter. KLP Kapitalforvaltning AS now owns 28,035 shares of the company's stock worth $1,211,000 after buying an additional 4,700 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of BridgeBio Pharma during the second quarter worth $207,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of BridgeBio Pharma by 15.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,335 shares of the company's stock worth $317,000 after purchasing an additional 971 shares during the last quarter. Platinum Investment Management Ltd. lifted its position in shares of BridgeBio Pharma by 7.6% during the second quarter. Platinum Investment Management Ltd. now owns 75,708 shares of the company's stock worth $3,269,000 after purchasing an additional 5,358 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in shares of BridgeBio Pharma during the second quarter worth $255,000. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma 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 transaction, the director owned 18,589 shares in the company, valued at $910,861. The trade was a 48.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total value of $2,191,200.00. Following the completion of the transaction, the chief executive officer owned 855,686 shares in the company, valued at $46,874,479.08. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 597,913 shares of company stock valued at $29,034,227 over the last three months. Corporate insiders own 18.20% of the company's stock.

BridgeBio Pharma Trading Up 1.0%

Shares of BridgeBio Pharma stock opened at $56.50 on Wednesday. The firm has a market cap of $10.80 billion, a P/E ratio of -13.81 and a beta of 1.36. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $57.47. The stock's fifty day moving average price is $51.40 and its 200-day moving average price is $43.22.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBIO. Scotiabank lifted their target price on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 6th. Bank of America lifted their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Truist Financial began coverage on BridgeBio Pharma in a research report on Monday, July 21st. They set a "buy" rating and a $66.00 target price for the company. Finally, Oppenheimer lifted their target price on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.94.

BridgeBio Pharma Profile

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.

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