Cetera Investment Advisers Grows Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Key Points

• Cetera Investment Advisers increased its holdings in BridgeBio Pharma by 38.7%, now owning 51,559 shares worth approximately $1.78 million.
• Several institutional investors have also raised their stakes in BridgeBio Pharma, with 99.85% of the company's stock owned by such entities.
• BridgeBio Pharma's CEO, Neil Kumar, sold 75,000 shares at an average price of $33.40, reducing his ownership by 1.54%.

Cetera Investment Advisers grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,559 shares of the company's stock after buying an additional 14,396 shares during the quarter. Cetera Investment Advisers' holdings in BridgeBio Pharma were worth $1,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BBIO. GAMMA Investing LLC increased its stake in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares in the last quarter. Xponance Inc. increased its stake in BridgeBio Pharma by 3.8% during the 1st quarter. Xponance Inc. now owns 10,474 shares of the company's stock worth $362,000 after buying an additional 385 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after buying an additional 466 shares in the last quarter. Mackenzie Financial Corp increased its stake in BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after buying an additional 592 shares in the last quarter. Finally, CWM LLC increased its stake in BridgeBio Pharma by 12.8% during the 1st 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. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the transaction, the insider owned 18,555,375 shares of the company's stock, valued at $816,436,500. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 75,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $33.40, for a total value of $2,505,000.00. Following the transaction, the chief executive officer directly owned 4,798,447 shares in the company, valued at approximately $160,268,129.80. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,808,322 shares of company stock valued at $166,585,026. Corporate insiders own 18.20% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded up $0.84 during mid-day trading on Tuesday, hitting $49.08. The company had a trading volume of 1,605,287 shares, compared to its average volume of 3,047,251. The company has a market capitalization of $9.38 billion, a PE ratio of -12.00 and a beta of 1.23. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $49.77. The business's 50-day simple moving average is $43.92 and its 200 day simple moving average is $37.56.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBIO. Jefferies Financial Group began coverage on BridgeBio Pharma in a research report on Monday, July 14th. They issued a "buy" rating and a $70.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Wells Fargo & Company upped their price target on BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Piper Sandler upped their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Truist Financial began coverage on BridgeBio Pharma in a research report on Monday, July 21st. They issued a "buy" rating and a $66.00 price target for the company. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $61.35.

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.