Northern Trust Corp Has $44.49 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Northern Trust Corp has reduced its holdings in BridgeBio Pharma by 2.8%, now owning approximately 1.29 million shares valued at about $44.5 million.
• Several institutional investors have recently increased their stakes in BridgeBio, with GAMMA Investing raising its position by 71% in the first quarter of the year.
• BridgeBio Pharma reported a revenue increase of 4999.9% year-over-year in its latest earnings, despite missing EPS estimates with a reported loss of ($0.95).

Northern Trust Corp trimmed its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,286,847 shares of the company's stock after selling 36,411 shares during the quarter. Northern Trust Corp owned about 0.68% of BridgeBio Pharma worth $44,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of BridgeBio Pharma by 71.0% in the 1st 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 period. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma in the 4th quarter valued at about $41,000. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma in the 4th quarter valued at about $109,000. CWM LLC increased its position in BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after buying an additional 598 shares in the last quarter. Finally, Commerce Bank bought a new stake in BridgeBio Pharma in the 1st quarter valued at about $209,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the subject of a number of research analyst reports. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Oppenheimer boosted their target price on BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wolfe Research initiated coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price for the company. Raymond James Financial initiated coverage on BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 target price for the company. Finally, UBS Group boosted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Seventeen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $61.35.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $49.59 on Thursday. The stock has a 50 day moving average price of $46.37 and a two-hundred day moving average price of $38.78. The firm has a market capitalization of $9.48 billion, a P/E ratio of -12.12 and a beta of 1.23. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $51.86.

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

Insider Activity

In other news, CEO Neil Kumar sold 26,156 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $48.82, for a total value of $1,276,935.92. Following the completion of the transaction, the chief executive officer directly owned 223,090 shares of the company's stock, valued at $10,891,253.80. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 916,674 shares of the company's stock, valued at approximately $44,000,352. This represents 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 4,092,912 shares of company stock worth $181,359,210. Company insiders own 18.20% of the company's stock.

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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