Axiom Investors LLC DE Has $15.87 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Axiom Investors LLC DE boosted its BridgeBio Pharma stake by 88.8% in the fourth quarter, bringing its holdings to 207,519 shares worth about $15.87 million.
• Institutional ownership remains very high, with 99.85% of BridgeBio shares held by hedge funds and other institutions, while several large investors such as Vanguard and Geode also increased their positions.
• Analysts are generally bullish on the stock: BridgeBio has a Moderate Buy consensus rating with an average price target of $89.59, even though the company recently reported a loss that missed EPS estimates while revenue came in above expectations.

Axiom Investors LLC DE raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 88.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,519 shares of the company's stock after acquiring an additional 97,622 shares during the quarter. Axiom Investors LLC DE owned about 0.11% of BridgeBio Pharma worth $15,873,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company's stock valued at $874,257,000 after acquiring an additional 347,074 shares during the last quarter. Farallon Capital Management LLC lifted its stake in BridgeBio Pharma by 3.7% in the third quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company's stock valued at $425,492,000 after acquiring an additional 292,000 shares during the last quarter. Aisling Capital Management LP lifted its stake in BridgeBio Pharma by 0.4% in the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company's stock valued at $316,294,000 after acquiring an additional 21,486 shares during the last quarter. Geode Capital Management LLC lifted its stake in BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company's stock valued at $344,689,000 after acquiring an additional 502,582 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in BridgeBio Pharma by 40.3% in the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company's stock valued at $204,054,000 after acquiring an additional 1,127,592 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBIO has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Weiss Ratings restated a "sell (d)" rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 10th. Finally, Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Twenty-three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $89.59.

BridgeBio Pharma Trading Up 0.5%

Shares of BBIO stock opened at $67.68 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $38.57 and a 1 year high of $84.94. The firm's fifty day simple moving average is $70.55 and its 200 day simple moving average is $72.13. The firm has a market capitalization of $13.26 billion, a P/E ratio of -18.10 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its 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 company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same quarter in the prior year, the business earned ($0.88) earnings per share. The company's revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director owned 11,589 shares of the company's stock, valued at approximately $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the business's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00. Following the completion of the sale, the chief executive officer directly owned 615,686 shares in the company, valued at $45,942,489.32. This trade represents a 6.10% 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. Over the last ninety days, insiders sold 211,754 shares of company stock worth $14,664,059. 14.23% of the stock is owned by insiders.

BridgeBio Pharma Company 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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