Ieq Capital LLC Acquires Shares of 26,929 BridgeBio Pharma, Inc. $BBIO

Key Points

• Ieq Capital LLC has made a new investment of approximately $931,000 in BridgeBio Pharma, acquiring 26,929 shares as reported in their recent SEC filing.
• BridgeBio Pharma's recent quarterly earnings showed a revenue increase of 4999.9% year-over-year, despite reporting an EPS of ($0.95), which missed analysts' expectations.
• A majority of the company's shares, approximately 99.85%, are owned by institutional investors, reflecting strong investor confidence in BridgeBio Pharma.

Ieq Capital LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,929 shares of the company's stock, valued at approximately $931,000.

A number of other institutional investors have also recently made changes to their positions in the business. Affinity Asset Advisors LLC grew its holdings in shares of BridgeBio Pharma by 50.0% in the first quarter. Affinity Asset Advisors LLC now owns 300,000 shares of the company's stock valued at $10,371,000 after purchasing an additional 100,000 shares in the last quarter. FORA Capital LLC purchased a new position in BridgeBio Pharma in the first quarter worth approximately $810,000. Monashee Investment Management LLC purchased a new position in BridgeBio Pharma in the first quarter worth approximately $6,050,000. CW Advisors LLC purchased a new position in BridgeBio Pharma in the first quarter worth approximately $9,421,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in BridgeBio Pharma by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company's stock worth $40,274,000 after acquiring an additional 173,729 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BBIO. Piper Sandler lifted their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup lifted their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Finally, HC Wainwright lifted their price target on shares of BridgeBio Pharma from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $63.35.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total value of $2,089,886.76. Following the sale, the chief financial officer directly owned 421,081 shares of the company's stock, valued at approximately $20,835,087.88. This represents a 9.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles J. Homcy sold 250,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the completion of the sale, the director directly owned 966,674 shares in the company, valued at approximately $44,515,337.70. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,092,912 shares of company stock worth $181,359,210. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Trading Up 3.0%

BBIO stock traded up $1.55 on Friday, hitting $53.38. The company's stock had a trading volume of 2,916,328 shares, compared to its average volume of 2,230,679. The firm has a 50 day moving average of $47.58 and a two-hundred day moving average of $39.71. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $53.97. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of -13.05 and a beta of 1.25.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The business's revenue for the quarter was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) earnings per share. As a group, equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

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.