BridgeBio Pharma, Inc. $BBIO Stock Position Lifted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in BridgeBio Pharma by 12.0%, acquiring an additional 7,877 shares, bringing its total holdings to 73,524 shares valued at approximately $2.54 million.
• BridgeBio Pharma's CFO, Thomas Trimarchi, and Director, Charles J. Homcy, both engaged in significant stock sales, with Trimarchi selling over 42,000 shares and Homcy selling 250,000 shares recently, reducing their ownership stakes by 9.12% and 20.55%, respectively.
• Analysts have a consensus "Buy" rating for BridgeBio Pharma, with the average target price set at $63.94, indicating positive expectations for the company's performance.

Intech Investment Management LLC raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 12.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 73,524 shares of the company's stock after purchasing an additional 7,877 shares during the period. Intech Investment Management LLC's holdings in BridgeBio Pharma were worth $2,542,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. Xponance Inc. boosted its position in BridgeBio Pharma by 3.8% during the first quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after purchasing an additional 385 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after buying an additional 592 shares during the last quarter. CWM LLC grew its stake in shares of BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after purchasing an additional 598 shares during the period. Finally, GF Fund Management CO. LTD. lifted its holdings in BridgeBio Pharma by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company's stock worth $167,000 after buying an additional 871 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup lifted their target price on shares of 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 began coverage on shares of BridgeBio Pharma in a report on Monday, July 14th. They set a "buy" rating and a $70.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Seventeen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $63.94.

BridgeBio Pharma Stock Performance

BBIO traded down $0.96 during mid-day trading on Friday, reaching $52.37. 6,030,005 shares of the stock were exchanged, compared to its average volume of 2,144,754. The stock has a market capitalization of $10.01 billion, a PE ratio of -12.80 and a beta of 1.25. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $54.60. The company has a 50 day moving average price of $49.23 and a two-hundred day moving average price of $40.89.

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

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the transaction, the chief financial officer directly owned 421,081 shares of the company's stock, valued at $20,835,087.88. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total value of $4,423,000.00. Following the completion of the transaction, the director owned 879,979 shares of the company's stock, valued at approximately $38,921,471.17. The trade was a 10.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,202,620 shares of company stock worth $187,174,970. Corporate insiders own 18.20% of the company's stock.

BridgeBio Pharma Company 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.