Baird Financial Group Inc. Acquires New Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Baird Financial Group Inc. has acquired a new stake in BridgeBio Pharma, purchasing 41,326 shares valued at approximately $1.4 million during the first quarter.
• BridgeBio Pharma's stock has received favorable ratings from several analysts, with a consensus target price of $63.35 and a majority rating of "Buy."
• Company insiders have sold over 4.2 million shares in recent transactions, indicating active trading among executives despite the company maintaining a significant insider ownership of 18.20%.

Baird Financial Group Inc. acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 41,326 shares of the company's stock, valued at approximately $1,429,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBIO. GAMMA Investing LLC boosted its stake in 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 period. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $109,000. CWM LLC raised its position in shares of BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after acquiring an additional 598 shares in the last quarter. Commerce Bank acquired a new position in shares of BridgeBio Pharma in the first quarter valued at approximately $209,000. Finally, Cerity Partners LLC purchased a new stake in shares of BridgeBio Pharma in the first quarter valued at $229,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Trading Down 2.6%

NASDAQ BBIO traded down $1.39 during trading hours on Friday, hitting $51.21. The company's stock had a trading volume of 2,087,756 shares, compared to its average volume of 2,190,681. The company has a market capitalization of $9.79 billion, a PE ratio of -12.52 and a beta of 1.25. The company's 50-day simple moving average is $48.54 and its two-hundred day simple moving average is $40.32. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The company had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. During the same period in the previous year, the business earned ($0.39) EPS. The business's quarterly revenue was up 4999.9% compared to the same quarter last year. Research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of recent analyst reports. Citigroup raised their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group lifted their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday. Piper Sandler lifted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Scotiabank boosted their price target 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. Finally, HC Wainwright upped their price objective on BridgeBio Pharma from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating, According to MarketBeat, BridgeBio Pharma has a consensus rating of "Buy" and an average price target of $63.94.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 42,237 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the sale, the chief financial officer directly owned 421,081 shares of the company's stock, valued at $20,835,087.88. The trade was a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director directly owned 916,674 shares in the company, valued at $44,000,352. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,202,620 shares of company stock worth $187,174,970. 18.20% of the stock is currently owned by corporate insiders.

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.