Legal & General Group Plc bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 299,482 shares of the company's stock, valued at approximately $22,305,000. Legal & General Group Plc owned approximately 0.15% of BridgeBio Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $28,000. Allworth Financial LP acquired a new position in shares of BridgeBio Pharma in the 2nd quarter worth $31,000. Global Retirement Partners LLC grew its holdings in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after purchasing an additional 245 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 99.85% of the company's stock.
BridgeBio Pharma Trading Down 2.6%
Shares of BBIO stock opened at $76.60 on Friday. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of -21.46 and a beta of 0.96. BridgeBio Pharma, Inc. has a 1-year low of $48.78 and a 1-year high of $93.42. The stock's fifty day simple moving average is $80.08 and its 200-day simple moving average is $73.55.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analysts' expectations of $220.91 million. During the same period in the prior year, the company posted ($0.95) earnings per share. The company's quarterly revenue was up 120.4% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.
Insiders Place Their Bets
In related news, Director Jennifer E. Cook sold 148,589 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director directly owned 8,383 shares in the company, valued at approximately $742,230.82. This trade represents a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the transaction, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 387,343 shares of company stock valued at $30,289,400 over the last ninety days. Insiders own 14.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. TD Cowen increased their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Citigroup upped their price objective on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Bank of America raised their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Raymond James Financial downgraded shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 26th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $100.79.
Get Our Latest Report on BBIO
About BridgeBio Pharma
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider BridgeBio Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BridgeBio Pharma wasn't on the list.
While BridgeBio Pharma currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
