23,428 Shares in BridgeBio Pharma, Inc. $BBIO Purchased by FORA Capital LLC

Key Points

• FORA Capital LLC recently acquired 23,428 shares of BridgeBio Pharma, valued at approximately $810,000, during the 1st quarter.
• BridgeBio Pharma has seen an increase in institutional investment, with 99.85% of its stock owned by institutional investors and hedge funds.
• Seventeen analysts have rated BridgeBio Pharma with a Buy rating, averaging a target price of $61.35 per share.

FORA Capital LLC bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,428 shares of the company's stock, valued at approximately $810,000.

Other large investors also recently modified their holdings of the company. Monashee Investment Management LLC acquired a new position in BridgeBio Pharma in the first quarter valued at $6,050,000. CW Advisors LLC acquired a new position in shares of BridgeBio Pharma in the 1st quarter valued at about $9,421,000. Price T Rowe Associates Inc. MD boosted its position in shares of BridgeBio Pharma by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company's stock valued at $40,274,000 after purchasing an additional 173,729 shares in the last quarter. American Century Companies Inc. grew its stake in BridgeBio Pharma by 1.2% during the first quarter. American Century Companies Inc. now owns 1,027,488 shares of the company's stock worth $35,520,000 after purchasing an additional 11,760 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in BridgeBio Pharma by 6.2% in the first quarter. E Fund Management Co. Ltd. now owns 18,890 shares of the company's stock worth $653,000 after purchasing an additional 1,105 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $45.44, for a total value of $45,440.00. Following the completion of the transaction, the chief accounting officer owned 141,859 shares in the company, valued at $6,446,072.96. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 26,156 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $48.82, for a total transaction of $1,276,935.92. Following the sale, the chief executive officer directly owned 223,090 shares in the company, valued at approximately $10,891,253.80. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,092,912 shares of company stock valued at $181,359,210. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Trading Down 3.4%

Shares of NASDAQ BBIO opened at $50.00 on Wednesday. The stock has a 50 day moving average of $47.12 and a two-hundred day moving average of $39.36. The stock has a market cap of $9.56 billion, a P/E ratio of -12.22 and a beta of 1.25. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $52.85.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $110.57 million for 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 last year, the business posted ($0.39) EPS. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BBIO. Oppenheimer lifted their price objective on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wolfe Research assumed coverage on BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price target on the stock. Citigroup raised their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group initiated coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 target price on the stock. Finally, Bank of America increased their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Buy" and a consensus target price of $62.18.

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.