Moss Adams Wealth Advisors LLC Has $1.04 Million Stock Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Moss Adams Wealth Advisors LLC has increased its stake in BridgeBio Pharma, Inc. by 49.2%, holding a total of 24,172 shares worth approximately $1.04 million as of the latest SEC filing.
• BridgeBio Pharma's recent quarterly earnings report showed revenue of $110.57 million, significantly surpassing analyst expectations, but it reported an EPS of ($0.95), missing the consensus estimate.
• A number of analysts have given BridgeBio Pharma a consensus "Buy" rating, with a target price averaging $63.94 as more institutional investors continue to increase their holdings in the company.

Moss Adams Wealth Advisors LLC lifted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 49.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,172 shares of the company's stock after buying an additional 7,970 shares during the quarter. Moss Adams Wealth Advisors LLC's holdings in BridgeBio Pharma were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BBIO. Mackenzie Financial Corp lifted its stake 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. California State Teachers Retirement System increased its position in BridgeBio Pharma by 6.8% during the fourth quarter. California State Teachers Retirement System now owns 115,655 shares of the company's stock worth $3,174,000 after acquiring an additional 7,388 shares during the period. GAMMA Investing LLC increased its position in BridgeBio Pharma by 5,811.5% during the first quarter. GAMMA Investing LLC now owns 31,804 shares of the company's stock worth $1,099,000 after acquiring an additional 31,266 shares during the period. Rhumbline Advisers increased its position in BridgeBio Pharma by 0.5% during the first quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after acquiring an additional 1,008 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in BridgeBio Pharma by 4,544.6% during the first quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company's stock worth $38,751,000 after acquiring an additional 1,096,799 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $50.05 on Monday. The firm has a market capitalization of $9.57 billion, a PE ratio of -12.24 and a beta of 1.25. The company's fifty day moving average price is $49.59 and its two-hundred day moving average price is $41.64. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $54.60.

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

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $51.34, for a total value of $2,053,600.00. Following the sale, the chief executive officer owned 895,686 shares of the company's stock, valued at approximately $45,984,519.24. This represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Trimarchi sold 42,237 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the completion of the sale, the chief financial officer directly owned 421,081 shares in the company, valued at approximately $20,835,087.88. The trade was a 9.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 597,913 shares of company stock worth $28,544,627 in the last quarter. 18.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America boosted their target price on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Truist Financial assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 21st. They set a "buy" rating and a $66.00 target price on the stock. Citigroup boosted their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 target price on the stock. Seventeen research analysts have rated the stock with a Buy rating, According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Buy" and an average target price of $63.94.

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.

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