American Century Companies Inc. Purchases 11,760 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• American Century Companies Inc. increased its stake in BridgeBio Pharma by 1.2%, owning approximately 1,027,488 shares valued at $35.52 million.
• BridgeBio Pharma's shares saw a price increase of 2.8%, with a current market capitalization of $9.60 billion.
• Institutional investors control 99.85% of BridgeBio Pharma's stock, indicating strong institutional support for the company.

American Century Companies Inc. increased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,027,488 shares of the company's stock after buying an additional 11,760 shares during the period. American Century Companies Inc. owned 0.54% of BridgeBio Pharma worth $35,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $41,000. Sterling Capital Management LLC raised its stake in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $109,000. Finally, CWM LLC raised its stake in shares of BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Trading Down 2.3%

Shares of NASDAQ:BBIO traded down $1.15 during midday trading on Friday, reaching $49.08. 1,490,123 shares of the company were exchanged, compared to its average volume of 2,934,835. BridgeBio Pharma, Inc. has a fifty-two week low of $21.72 and a fifty-two week high of $51.86. The stock has a fifty day simple moving average of $45.88 and a two-hundred day simple moving average of $38.49.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. During the same period in the previous year, the business posted ($0.39) EPS. The company's quarterly revenue was up 4999.9% on a year-over-year basis. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the completion of the transaction, the insider directly owned 18,555,375 shares in the company, valued at approximately $816,436,500. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles J. Homcy sold 250,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the transaction, the director owned 966,674 shares of the company's stock, valued at approximately $44,515,337.70. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,092,912 shares of company stock valued at $181,359,210 in the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of recent research 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 target for the company. Truist Financial initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 14th. They set a "buy" rating and a $70.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Finally, Raymond James Financial initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price objective on the stock. Seventeen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, BridgeBio Pharma has an average rating of "Buy" and a consensus target price of $61.35.

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.