BridgeBio Pharma, Inc. $BBIO Holdings Lifted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in BridgeBio Pharma by 147% in Q1, acquiring a total of 2,206,163 shares, with holdings valued at approximately $76.27 million.
• Several other hedge funds, including Janus Henderson Group and Farallon Capital Management, have also significantly increased their positions in BridgeBio, with institutional investors currently owning 99.85% of the stock.
• BridgeBio Pharma reported a significant year-over-year revenue increase of 4999.9% and a disappointing earnings per share of ($0.95), missing analysts' expectations for the quarter.

Invesco Ltd. grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 147.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206,163 shares of the company's stock after acquiring an additional 1,313,036 shares during the period. Invesco Ltd. owned about 1.16% of BridgeBio Pharma worth $76,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BBIO. GAMMA Investing LLC boosted 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. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC raised its position in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after purchasing an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $109,000. Finally, CWM LLC grew its position in shares of BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded up $0.4550 during trading hours on Thursday, reaching $49.3350. The company's stock had a trading volume of 226,412 shares, compared to its average volume of 3,006,396. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $51.86. The company's 50 day simple moving average is $45.48 and its 200 day simple moving average is $38.21. The stock has a market cap of $9.43 billion, a P/E ratio of -12.03 and a beta of 1.23.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate 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. During the same quarter last year, the business posted ($0.39) EPS. The firm's revenue for the quarter was up 4999.9% compared to the same quarter last year. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $45.45, for a total value of $1,818,000.00. Following the sale, the chief executive officer directly owned 935,686 shares of the company's stock, valued at $42,526,928.70. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles J. Homcy sold 50,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the completion of the sale, the director owned 916,674 shares in the company, valued at $44,000,352. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,024,519 shares of company stock worth $177,992,388. Corporate insiders own 18.20% of the company's stock.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of research analyst reports. HC Wainwright lifted their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. UBS Group boosted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Scotiabank upped their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup boosted their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. Seventeen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, BridgeBio Pharma presently has an average rating of "Buy" and a consensus price target of $61.35.

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.