BridgeBio Pharma, Inc. $BBIO Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in BridgeBio Pharma by 139.4% in the first quarter, ending with 32,708 shares valued at about $2.43 million.
• Institutional ownership in BridgeBio remains very high, with 99.85% of the stock held by institutional investors. Several other funds also recently added to or adjusted positions in the company.
• BridgeBio shares were trading around $84.02, near the stock’s 12-month high of $93.42. The company recently reported a wider-than-expected quarterly loss but stronger-than-expected revenue growth, and analysts currently rate the stock a Moderate Buy.

Hsbc Holdings PLC boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 139.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,708 shares of the company's stock after buying an additional 19,043 shares during the period. Hsbc Holdings PLC's holdings in BridgeBio Pharma were worth $2,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BBIO. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the first quarter worth about $35,000. First Trust Advisors LP lifted its position in BridgeBio Pharma by 200.4% in the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company's stock valued at $11,386,000 after purchasing an additional 175,918 shares during the last quarter. Baird Financial Group Inc. lifted its position in BridgeBio Pharma by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company's stock valued at $1,816,000 after purchasing an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in BridgeBio Pharma during the 2nd quarter valued at about $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BridgeBio Pharma by 2.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company's stock valued at $4,132,000 after purchasing an additional 2,206 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Insider Activity

In other BridgeBio Pharma news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the transaction, the director directly owned 22,579 shares of the company's stock, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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, June 4th. The stock was sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the sale, the chief executive officer directly owned 535,686 shares in the company, valued at $36,137,377.56. This represents a 6.95% 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 432,117 shares of company stock worth $32,633,740 in the last quarter. 14.23% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Trading Up 1.3%

Shares of NASDAQ:BBIO opened at $84.02 on Friday. The company has a 50 day moving average of $72.69 and a 200-day moving average of $72.53. The firm has a market cap of $16.46 billion, a P/E ratio of -22.47 and a beta of 0.95. BridgeBio Pharma, Inc. has a twelve month low of $42.09 and a twelve month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period in the previous year, the business earned ($0.88) EPS. BridgeBio Pharma's quarterly revenue was up 66.8% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price target on the stock. Raymond James Financial lowered BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. Citigroup raised their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. HC Wainwright lifted their target price on BridgeBio Pharma from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Finally, Morgan Stanley boosted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Twenty 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 stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $95.21.

BridgeBio Pharma 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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