Farallon Capital Management LLC Has $425.49 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Farallon Capital boosted its stake to 8,192,000 shares of BridgeBio, a 4.25% ownership valued at about $425.49 million, making BBIO its 16th-largest position.
• Analysts are largely positive on BBIO—23 Buys vs. 1 Sell—with a consensus rating of "Moderate Buy" and a consensus price target of $83.95, while several firms recently raised targets into the mid-to-high $90s and $100s.
• Company insiders have been net sellers, disposing of 197,084 shares worth about $13.86 million in the past three months, though insiders still own 18.2% of the stock.

Farallon Capital Management LLC raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,192,000 shares of the company's stock after acquiring an additional 292,000 shares during the period. BridgeBio Pharma makes up 1.7% of Farallon Capital Management LLC's holdings, making the stock its 16th largest position. Farallon Capital Management LLC owned 4.25% of BridgeBio Pharma worth $425,492,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the first quarter worth $35,000. Envestnet Asset Management Inc. lifted its stake in BridgeBio Pharma by 204.1% in the second quarter. Envestnet Asset Management Inc. now owns 39,487 shares of the company's stock valued at $1,705,000 after buying an additional 26,500 shares during the period. Bank of Montreal Can lifted its stake in BridgeBio Pharma by 6.0% in the second quarter. Bank of Montreal Can now owns 9,865 shares of the company's stock valued at $426,000 after buying an additional 556 shares during the period. Savant Capital LLC bought a new position in BridgeBio Pharma during the second quarter worth about $218,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma during the second quarter worth about $25,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BBIO shares. HC Wainwright upped their price target on BridgeBio Pharma from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Wells Fargo & Company lifted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Truist Financial upped their target price on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Finally, William Blair initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They set an "outperform" rating on the stock. Twenty-three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.95.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the firm's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the sale, the director directly owned 11,589 shares in the company, valued at $874,505.94. This trade represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Neil Kumar sold 28,053 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the sale, the chief executive officer owned 234,451 shares in the company, valued at approximately $16,737,456.89. The trade was a 10.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 197,084 shares of company stock valued at $13,859,219 over the last three months. Insiders own 18.20% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $69.41 on Monday. The stock has a 50 day simple moving average of $72.97 and a 200 day simple moving average of $66.18. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $84.94. The firm has a market capitalization of $13.46 billion, a PE ratio of -18.36 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analysts' expectations of $150.71 million. During the same quarter in the prior year, the business earned ($1.40) EPS. The business's revenue for the quarter was up 2521.2% on a year-over-year basis. Equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS 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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