California State Teachers Retirement System Boosts Stock Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• California State Teachers Retirement System increased its BridgeBio Pharma stake by 23.7% in the first quarter, reaching 165,703 shares valued at approximately $12.3 million. Institutional investors collectively own 99.85% of the company.
• Analyst sentiment remains favorable, with 20 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $95.21.
• BridgeBio reported quarterly revenue of $194.5 million, up 66.8% year over year, but missed EPS expectations with a loss of $0.84 versus the $0.70 consensus estimate. Insiders have sold 432,117 shares worth about $32.7 million over the past 90 days.

California State Teachers Retirement System boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 23.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,703 shares of the company's stock after acquiring an additional 31,797 shares during the quarter. California State Teachers Retirement System owned about 0.08% of BridgeBio Pharma worth $12,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of BridgeBio Pharma by 4.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company's stock worth $396,000 after purchasing an additional 244 shares during the last quarter. Farther Finance Advisors LLC grew its position in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after buying an additional 245 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in BridgeBio Pharma by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock worth $3,970,000 after buying an additional 246 shares during the last quarter. CWM LLC raised its position in BridgeBio Pharma by 4.3% during the 4th quarter. CWM LLC now owns 6,444 shares of the company's stock worth $493,000 after buying an additional 265 shares during the last quarter. Finally, Xponance LLC lifted its stake in shares of BridgeBio Pharma by 2.2% in the 4th quarter. Xponance LLC now owns 12,536 shares of the company's stock worth $959,000 after acquiring an additional 272 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of several analyst reports. Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They set an "outperform" rating and a $100.00 target price for the company. Finally, Morgan Stanley lifted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.21.

Insider Buying and Selling

In other news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the transaction, the chief executive officer directly owned 535,686 shares of the company's stock, valued at approximately $36,137,377.56. This trade represents a 6.95% 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. Over the last ninety days, insiders have sold 432,117 shares of company stock valued at $32,650,700. 14.23% of the stock is owned by company insiders.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $79.96 on Tuesday. BridgeBio Pharma, Inc. has a 1-year low of $42.09 and a 1-year high of $93.42. The company has a market capitalization of $15.63 billion, a P/E ratio of -21.38 and a beta of 0.96. The business has a 50 day moving average price of $74.44 and a 200 day moving average price of $72.80.

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

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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