BridgeBio Pharma, Inc. $BBIO Shares Acquired by GW&K Investment Management LLC

Key Points

• GW&K Investment Management raised its stake in BridgeBio Pharma by 4.7% in the fourth quarter, ending with 626,122 shares valued at about $47.9 million.
• Institutional interest remains strong, with several other big investors also adding positions; overall, about 99.85% of the stock is owned by hedge funds and other institutions.
• BridgeBio’s latest results were mixed: revenue jumped 66.8% year over year to $194.52 million, but earnings per share missed analyst estimates. Analysts still largely remain bullish, with a consensus rating of “Moderate Buy” and a price target around $89.59.

GW&K Investment Management LLC increased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 626,122 shares of the company's stock after acquiring an additional 27,885 shares during the period. GW&K Investment Management LLC owned about 0.32% of BridgeBio Pharma worth $47,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in BridgeBio Pharma in the 4th quarter valued at approximately $116,802,000. Invesco Ltd. grew its stake in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company's stock worth $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company's stock worth $77,783,000 after purchasing an additional 987,273 shares during the period. Polar Capital Holdings Plc purchased a new position in shares of BridgeBio Pharma in the 3rd quarter valued at about $50,956,000. Finally, Wellington Management Group LLP boosted its stake in shares of BridgeBio Pharma by 1,698.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company's stock valued at $52,937,000 after buying an additional 962,525 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 0.5%

BBIO stock opened at $67.68 on Wednesday. The company's 50-day moving average price is $70.55 and its 200 day moving average price is $72.13. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The company has a market cap 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 released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. BridgeBio Pharma's quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.88) earnings per share. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on BBIO shares. William Blair began coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They set an "outperform" rating on the stock. Wells Fargo & Company increased their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Leerink Partners restated an "outperform" rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a report on Thursday, March 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, March 10th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.59.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the transaction, the chief executive officer directly owned 535,686 shares in the company, valued at approximately $36,137,377.56. This trade represents a 6.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Friday, May 15th. The stock was 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 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. Insiders sold a total of 211,754 shares of company stock valued at $14,664,059 in the last quarter. Insiders own 14.23% of the company's stock.

About BridgeBio Pharma

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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