BridgeBio Pharma, Inc. $BBIO Stake Increased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its BridgeBio Pharma stake by 133.9% in the third quarter, to 702,845 shares valued at about $46.4 million. Institutional investors and hedge funds collectively own 99.85% of the company’s shares.
• BridgeBio reported quarterly EPS of -$0.42, beating estimates of -$0.54, and revenue of $353.17 million, up 192.6% year over year.
• Analysts give BBIO a “Moderate Buy” consensus rating and an average price target of $104.26; 19 analysts rate it Buy, two Hold, and one Sell.

Candriam S.C.A. increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 133.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 702,845 shares of the company's stock after buying an additional 402,325 shares during the period. Candriam S.C.A. owned about 0.36% of BridgeBio Pharma worth $46,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBIO. Silvant Capital Management LLC purchased a new position in BridgeBio Pharma in the second quarter valued at about $28,000. Root Financial Partners LLC acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its position in shares of BridgeBio Pharma by 55.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 441 shares of the company's stock valued at $29,000 after acquiring an additional 157 shares during the period. Allworth Financial LP acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $31,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $39,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $74.29 on Friday. BridgeBio Pharma, Inc. has a 12-month low of $60.55 and a 12-month high of $93.42. The company has a market capitalization of $14.47 billion, a PE ratio of -24.44 and a beta of 0.97. The firm's 50-day moving average is $69.76 and its two-hundred day moving average is $72.78.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.12. The business had revenue of $353.17 million during the quarter, compared to analyst estimates of $293.47 million. During the same quarter in the prior year, the company earned ($0.95) earnings per share. The firm's revenue for the quarter was up 192.6% compared to the same quarter last year. On average, analysts forecast that BridgeBio Pharma, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on BBIO. Barclays lowered their price target on BridgeBio Pharma from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Wednesday, October 7th. Truist Financial lifted their price objective on BridgeBio Pharma from $102.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. TD Cowen decreased their target price on BridgeBio Pharma from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, October 30th. JPMorgan Chase & Co. upped their target price on BridgeBio Pharma from $100.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Finally, HC Wainwright restated a "buy" rating on shares of BridgeBio Pharma in a research report on Tuesday, October 6th. Nineteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average target price of $104.26.

Insider Activity at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the company's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $72.85, for a total value of $145,700.00. Following the sale, the chief accounting officer owned 120,687 shares of the company's stock, valued at approximately $8,792,047.95. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 34,980 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total value of $2,886,899.40. Following the sale, the chief executive officer owned 243,327 shares in the company, valued at approximately $20,081,777.31. This trade represents a 12.57% decrease in their position. 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 have sold a total of 56,980 shares of company stock valued at $4,563,699 over the last 90 days. Insiders own 14.23% of the company's stock.

BridgeBio Pharma Profile

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas.

Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.

BridgeBio is headquartered in Palo Alto, California.

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