Commerce Bank Invests $209,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Key Points

• Commerce Bank invested approximately $209,000 in BridgeBio Pharma, Inc., acquiring 6,043 shares during the first quarter of the year.
• In related insider news, CEO Neil Kumar sold 75,000 shares for over $2.5 million, while other insiders have sold nearly 9.8 million shares in the past 90 days.
• Research analysts have expressed strong confidence in BridgeBio's potential, with a consensus rating of "Moderate Buy" and an average price target of $61.35 for the stock.

Commerce Bank bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 6,043 shares of the company's stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBIO. GAMMA Investing LLC lifted its position in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after purchasing an additional 382 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the 4th quarter worth $41,000. Sterling Capital Management LLC boosted its position in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after buying an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at about $109,000. Finally, CWM LLC increased its position in shares of 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 acquiring an additional 598 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total transaction of $2,505,000.00. Following the sale, the chief executive officer directly owned 4,798,447 shares in the company, valued at $160,268,129.80. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total transaction of $841,183.00. Following the completion of the transaction, the director owned 18,589 shares of the company's stock, valued at $910,861. This represents a 48.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,767,322 shares of company stock valued at $369,921,586. Company insiders own 18.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BBIO shares. Bank of America raised their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Oppenheimer lifted their price target on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Jefferies Financial Group began coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Piper Sandler increased their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.35.

BridgeBio Pharma Stock Up 2.5%

BBIO stock opened at $45.95 on Friday. The firm's 50-day simple moving average is $43.42 and its 200 day simple moving average is $37.40. The stock has a market cap of $8.78 billion, a PE ratio of -11.23 and a beta of 1.23. BridgeBio Pharma, Inc. has a fifty-two week low of $21.72 and a fifty-two week high of $49.77.

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

BridgeBio Pharma Profile

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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