BridgeBio Pharma, Inc. $BBIO Stock: China Universal Asset Management Co. Ltd. Boosts Position

Key Points

• China Universal Asset Management increased its BridgeBio Pharma stake by 57% in the third quarter, bringing its holdings to 48,926 shares valued at approximately $3.23 million.
• BridgeBio reported strong third-quarter results, with revenue rising 192.6% year over year to $353.2 million and a loss of $0.42 per share, better than analysts’ expectations. Attruby revenue reached $253.2 million, while the company ended the quarter with $1.5 billion in cash and marketable securities.
• Institutional investors own 99.85% of BBIO, and analysts maintain a “Moderate Buy” consensus with an average price target of $104.63, although the company remains unprofitable and execution of its product launches remains a key risk.

China Universal Asset Management Co. Ltd. boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 57.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,926 shares of the company's stock after acquiring an additional 17,755 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in BridgeBio Pharma were worth $3,228,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBIO. Silvant Capital Management LLC purchased a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $28,000. Allworth Financial LP bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $31,000. Root Financial Partners LLC purchased a new position in BridgeBio Pharma in the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its stake in BridgeBio Pharma by 55.3% in the third quarter. SBI Securities Co. Ltd. now owns 441 shares of the company's stock valued at $29,000 after purchasing an additional 157 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BridgeBio Pharma in the second quarter valued at approximately $44,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma News Summary

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: Third-quarter revenue reached $353.2 million, well above the approximately $293.5 million consensus estimate and up 192.6% year over year. BridgeBio Q3 Revenue Earnings Flash
• Positive Sentiment: The company reported a quarterly loss of $0.42 per share, narrower than the $0.54 analyst consensus and significantly improved from a $0.95 loss in the year-earlier period. BridgeBio Q3 EPS Earnings Flash
• Positive Sentiment: U.S. Attruby net product revenue was $253.2 million, increasing approximately $31 million sequentially and $145 million year over year. The results reinforce the commercial momentum of BridgeBio’s primary revenue-generating product. BridgeBio Third-Quarter Results and Corporate Updates
• Positive Sentiment: BridgeBio ended September with $1.5 billion in cash, cash equivalents and marketable securities, which management said fully funds its three launches and expansion indications. This reduces near-term financing and dilution concerns. BridgeBio Cash Position
• Neutral Sentiment: Operating loss was $11.6 million, helped by higher revenue and a one-time $75 million BEYONTTRA sales milestone from Bayer. Investors may therefore distinguish recurring product growth from milestone-related revenue when assessing future quarters. BridgeBio Corporate Updates
• Negative Sentiment: Despite the improvement, BBIO remains unprofitable, and the company’s ability to sustain Attruby growth and execute its multiple launches will remain important to the stock’s valuation.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $70.73 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $60.22 and a 52-week high of $93.42. The stock's 50-day simple moving average is $70.43 and its 200 day simple moving average is $72.85.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.12. The company had revenue of $353.17 million for the quarter, compared to analysts' expectations of $293.47 million. During the same period in the previous year, the firm earned ($0.95) EPS. The firm's quarterly revenue was up 192.6% compared to the same quarter last year. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.65 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 34,980 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $82.53, for a total transaction of $2,886,899.40. Following the completion of the transaction, the chief executive officer owned 243,327 shares of the company's stock, valued at approximately $20,081,777.31. The trade was a 12.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,980 shares of company stock valued at $4,417,999 in the last three months. 14.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings downgraded BridgeBio Pharma from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, September 25th. Truist Financial boosted their price objective on BridgeBio Pharma from $102.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. UBS Group started coverage on shares of BridgeBio Pharma in a report on Thursday, October 15th. They set a "buy" rating and a $92.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley cut their target price on shares of BridgeBio Pharma from $97.00 to $87.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.63.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio's portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.

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