Affinity Asset Advisors LLC Acquires 100,000 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Affinity Asset Advisors LLC increased its holdings in BridgeBio Pharma by 50% in the first quarter, owning 300,000 shares valued at approximately $10.37 million.
• BridgeBio's stock has received multiple "buy" ratings from various financial analysts, with a consensus target price of $61.35.
• Insider trading showed significant activity, with CFO Thomas Trimarchi selling over 42,000 shares, while major shareholder Global Investors LP Viking sold 3.5 million shares recently.

Affinity Asset Advisors LLC lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the company's stock after acquiring an additional 100,000 shares during the quarter. BridgeBio Pharma accounts for about 1.0% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 23rd largest holding. Affinity Asset Advisors LLC owned 0.16% of BridgeBio Pharma worth $10,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of BridgeBio Pharma by 29.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock worth $1,065,000 after acquiring an additional 6,997 shares during the period. GAMMA Investing LLC boosted its holdings in shares of BridgeBio Pharma by 71.0% in 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. Allspring Global Investments Holdings LLC purchased a new position in shares of BridgeBio Pharma in the first quarter worth approximately $251,000. Victory Capital Management Inc. boosted its holdings in shares of BridgeBio Pharma by 22.8% in the first quarter. Victory Capital Management Inc. now owns 79,851 shares of the company's stock worth $2,760,000 after buying an additional 14,825 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of BridgeBio Pharma by 0.5% in the first quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after buying an additional 1,008 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Maricel Apuli sold 1,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total value of $45,440.00. Following the sale, the chief accounting officer owned 141,859 shares in the company, valued at approximately $6,446,072.96. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 26,156 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $48.82, for a total transaction of $1,276,935.92. Following the completion of the sale, the chief executive officer owned 223,090 shares in the company, valued at $10,891,253.80. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,092,912 shares of company stock valued at $181,359,210. Company insiders own 18.20% of the company's stock.

Analyst Ratings Changes

BBIO has been the topic of a number of research reports. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Citigroup raised their price objective on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Oppenheimer raised their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Truist Financial assumed coverage on shares of BridgeBio Pharma in a report on Monday, July 21st. They set a "buy" rating and a $66.00 price target on the stock. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat, BridgeBio Pharma currently has an average rating of "Buy" and a consensus target price of $62.18.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded down $0.81 on Friday, hitting $51.76. 2,995,274 shares of the company traded hands, compared to its average volume of 3,001,220. The stock has a market capitalization of $9.89 billion, a P/E ratio of -12.66 and a beta of 1.23. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $52.85. The business has a 50-day simple moving average of $46.82 and a 200 day simple moving average of $39.12.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $110.57 million for the quarter, compared to analysts' expectations of $98.46 million. BridgeBio Pharma's revenue was up 4999.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) EPS. Research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.