Janus Henderson Group PLC Acquires 2,259,378 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 25.8% in the fourth quarter, buying 2.26 million additional shares and bringing its total holding to 11.0 million shares, worth about $841.3 million.
• BridgeBio reported better-than-expected revenue of $194.5 million in its latest quarter, up 66.8% from a year earlier, but it also posted a wider-than-expected loss of $0.84 per share versus the $0.70 estimate.
• Several insiders have sold stock recently, including Director Jennifer E. Cook and Director Randal W. Scott, while analysts remain mostly bullish with a Moderate Buy consensus and a $91.05 average price target.

Janus Henderson Group PLC raised its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 25.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000,457 shares of the company's stock after buying an additional 2,259,378 shares during the quarter. Janus Henderson Group PLC owned about 5.71% of BridgeBio Pharma worth $841,349,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in BridgeBio Pharma by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company's stock valued at $874,257,000 after acquiring an additional 347,074 shares during the period. Farallon Capital Management LLC raised its position in shares of BridgeBio Pharma by 9.8% in the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company's stock worth $688,292,000 after acquiring an additional 806,463 shares in the last quarter. Aisling Capital Management LP increased its position in BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company's stock valued at $316,294,000 after buying an additional 21,486 shares in the last quarter. Geode Capital Management LLC increased its position in BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company's stock valued at $344,689,000 after buying an additional 502,582 shares in the last quarter. Finally, Invesco Ltd. grew its stake in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company's stock valued at $204,054,000 after purchasing an additional 1,127,592 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $67.39 on Thursday. BridgeBio Pharma, Inc. has a one year low of $39.65 and a one year high of $84.94. The stock has a market cap of $13.20 billion, a PE ratio of -18.02 and a beta of 0.97. The stock has a 50 day moving average price of $69.89 and a 200 day moving average price of $72.04.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. The firm's revenue was up 66.8% compared to the same quarter last year. During the same period last year, the business posted ($0.88) earnings per share. As a group, analysts predict that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Jennifer E. Cook sold 90,240 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $66.62, for a total transaction of $6,011,788.80. Following the completion of the transaction, the director directly owned 6,589 shares in the company, valued at $438,959.18. This trade represents a 93.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company's stock, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 261,994 shares of company stock valued at $17,926,648. Corporate insiders own 14.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley upped their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Oppenheimer reduced their price target on BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Citigroup began coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 price target for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price target on shares of BridgeBio Pharma in a report on Thursday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.05.

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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