BridgeBio Pharma, Inc. $BBIO Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in BridgeBio by 3.7% to 1,314,303 shares (about 0.68% of the company), a holding valued at roughly $100.53 million at quarter-end, and institutional investors now own 99.85% of the stock.
• Company insiders sold a total of 239,084 shares (~$16.78 million) in the last three months — including CEO Neil Kumar (40,000 shares) and Director Randal W. Scott (10,000 shares) — though insiders still hold 14.23% of the company.
• Analysts are largely bullish (24 Buys vs. 1 Sell) with an average target of $87.71; BridgeBio reported a quarterly EPS miss (‑$1.00 vs. ‑$0.75 est.) but revenue of $154.18 million (up 2521% YoY) and the stock has a market cap of about $13.33 billion.

Principal Financial Group Inc. increased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,314,303 shares of the company's stock after purchasing an additional 46,891 shares during the period. Principal Financial Group Inc. owned 0.68% of BridgeBio Pharma worth $100,531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the 1st quarter worth $35,000. First Trust Advisors LP lifted its position in BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company's stock worth $11,386,000 after acquiring an additional 175,918 shares during the period. Baird Financial Group Inc. grew its stake in shares of 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 shares of BridgeBio Pharma in the second quarter valued at approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of BridgeBio Pharma by 2.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company's stock worth $4,132,000 after purchasing an additional 2,206 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Activity

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $874,505.94. 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 accessible through this link. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred 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 owned 615,686 shares in the company, valued at $45,942,489.32. This represents a 6.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 239,084 shares of company stock worth $16,777,579 in the last three months. Company insiders own 14.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price objective on the stock. Leerink Partners reiterated an "outperform" rating and set a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Barclays reiterated an "overweight" rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. lifted their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. Twenty-four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.71.

BridgeBio Pharma Price Performance

BBIO opened at $68.09 on Thursday. BridgeBio Pharma, Inc. has a 1-year low of $31.77 and a 1-year high of $84.94. The stock has a market cap of $13.33 billion, a P/E ratio of -18.01 and a beta of 1.02. The stock's 50 day simple moving average is $71.29 and its 200 day simple moving average is $71.23.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to the consensus estimate of $150.71 million. During the same quarter last year, the firm posted ($1.40) EPS. The business's quarterly revenue was up 2521.2% compared to the same quarter last year. Research analysts expect that BridgeBio Pharma, Inc. will post -2.05 EPS for the current fiscal year.

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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