BridgeBio Pharma, Inc. $BBIO Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its stake in BridgeBio Pharma, acquiring an additional 173,729 shares, bringing its total ownership to approximately 1.17 million shares valued at about $40.3 million.
• Major stakeholder Global Investors Lp Viking sold 3.5 million shares of BridgeBio Pharma, which represented a 15.87% decrease in their ownership.
• BridgeBio Pharma recently reported a quarterly revenue of $110.57 million, a significant increase, with analysts predicting an EPS of -3.67 for the current year.

Price T Rowe Associates Inc. MD increased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,164,967 shares of the company's stock after buying an additional 173,729 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.61% of BridgeBio Pharma worth $40,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BBIO. GAMMA Investing LLC lifted its holdings in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. acquired a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $109,000. CWM LLC boosted its holdings in BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares in the last quarter. Finally, Commerce Bank acquired a new position in BridgeBio Pharma in the first quarter worth approximately $209,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Truist Financial started coverage on BridgeBio Pharma in a research note on Monday, July 21st. They issued a "buy" rating and a $66.00 price target on the stock. Wolfe Research began coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price objective on the stock. Bank of America raised their target price on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, UBS Group lifted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Seventeen research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $61.35.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $44.00, for a total value of $154,000,000.00. Following the transaction, the insider owned 18,555,375 shares in the company, valued at $816,436,500. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $45.45, for a total value of $1,818,000.00. Following the completion of the transaction, the chief executive officer directly owned 935,686 shares in the company, valued at approximately $42,526,928.70. The trade was a 4.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,092,912 shares of company stock valued at $181,359,210 in the last three months. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $49.59 on Thursday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of -12.12 and a beta of 1.23. The company has a 50 day simple moving average of $46.37 and a 200-day simple moving average of $38.78. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $51.86.

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

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