36,207 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BridgeBio Pharma, purchasing 36,207 shares valued at approximately $1.25 million in the first quarter.
• Insider sales included Director Charles J. Homcy offloading 50,000 shares at $48 each, decreasing his position by 5.17%.
• BridgeBio Pharma's stock has a current consensus rating of "Moderate Buy" with an average target price of $61.35, following recent upgrades from multiple analysts.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 36,207 shares of the company's stock, valued at approximately $1,252,000.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after purchasing an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC raised 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 worth $49,000 after purchasing an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $109,000. Finally, CWM LLC raised its position in BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after purchasing an additional 598 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BBIO. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a report on Monday, July 14th. They set a "buy" rating and a $70.00 target price for the company. HC Wainwright lifted their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Piper Sandler lifted their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Scotiabank lifted their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a report on Wednesday, August 6th. Seventeen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $61.35.

BridgeBio Pharma Trading Up 2.8%

Shares of BBIO stock traded up $1.35 on Thursday, hitting $50.23. The stock had a trading volume of 1,340,044 shares, compared to its average volume of 2,948,498. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $51.86. The firm has a market cap of $9.60 billion, a P/E ratio of -12.28 and a beta of 1.23. The company has a fifty day moving average price of $45.69 and a two-hundred day moving average price of $38.34.

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

Insider Buying and Selling

In other news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $44.00, for a total value of $154,000,000.00. Following the completion of the transaction, the insider owned 18,555,375 shares of the company's stock, valued at $816,436,500. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Trimarchi sold 17,353 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $50.23, for a total transaction of $871,641.19. Following the completion of the transaction, the chief financial officer directly owned 463,318 shares of the company's stock, valued at $23,272,463.14. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,024,519 shares of company stock worth $177,992,388 over the last ninety days. Insiders own 18.20% of the company's stock.

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.