Janus Henderson Group PLC Has $978.61 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Janus Henderson increased its BridgeBio Pharma stake by 19.8% in the first quarter, owning 13.18 million shares worth approximately $978.6 million, or 6.73% of BBIO. Institutional investors collectively hold 99.85% of the company.
• BridgeBio reported quarterly revenue of $194.5 million, up 66.8% year over year, but posted an adjusted loss of $0.84 per share, missing analyst expectations of a $0.70 loss.
• Analyst sentiment remains broadly positive, with 20 Buy ratings, two Holds and one Sell; the consensus price target is $95.21 versus the stock’s recent price of $83.54. Meanwhile, insiders sold roughly $32.5 million of shares during the quarter.

Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,179,013 shares of the company's stock after purchasing an additional 2,178,556 shares during the period. Janus Henderson Group PLC owned about 6.73% of BridgeBio Pharma worth $978,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BBIO. Harvest Fund Management Co. Ltd acquired a new stake in BridgeBio Pharma during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the first quarter valued at about $35,000. Farther Finance Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after buying an additional 245 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock worth $39,000 after buying an additional 372 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $83.54 on Thursday. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of -22.34 and a beta of 0.95. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42. The business's 50-day moving average is $73.76 and its 200-day moving average is $72.74.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the business earned ($0.88) earnings per share. BridgeBio Pharma's quarterly revenue was up 66.8% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jennifer E. Cook sold 148,589 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total value of $13,156,070.06. Following the transaction, the director directly owned 8,383 shares of the company's stock, valued at approximately $742,230.82. This represents a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the company's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the transaction, the director directly owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 430,117 shares of company stock worth $32,490,580. Insiders own 14.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BBIO shares. Mizuho cut their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a report on Tuesday, June 16th. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Weiss Ratings reiterated a "sell (d)" rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Raymond James Financial downgraded shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley increased their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.21.

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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