Nuveen LLC Makes New Investment in BridgeBio Pharma, Inc. $BBIO

Key Points

• Nuveen LLC has acquired a significant stake in BridgeBio Pharma, Inc., purchasing 433,112 shares valued at approximately $14.97 million, which represents 0.23% of the company's total shares.
• Insider transactions revealed that Director Frank McCormick sold 100,000 shares, while major shareholder Global Investors LP Viking sold 3.5 million shares, indicating a reduction in their stakes.
• BridgeBio Pharma's stock has been rated with a Buy consensus by analysts, with target prices ranging significantly, reflecting a positive outlook despite fluctuating performance.

Nuveen LLC acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 433,112 shares of the company's stock, valued at approximately $14,973,000. Nuveen LLC owned 0.23% of BridgeBio Pharma at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after purchasing an additional 382 shares during the period. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the fourth quarter worth $41,000. Sterling Capital Management LLC boosted its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares during the period. GF Fund Management CO. LTD. acquired a new position in BridgeBio Pharma in the fourth quarter worth $109,000. Finally, CWM LLC boosted its holdings in BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Charles J. Homcy sold 50,000 shares of BridgeBio Pharma stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the sale, the director directly owned 916,674 shares in the company, valued at $44,000,352. The trade was a 5.17% decrease in their ownership of the stock. The sale 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 BridgeBio Pharma stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the sale, the chief financial officer owned 421,081 shares in the company, valued at approximately $20,835,087.88. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,092,912 shares of company stock valued at $181,359,210. 18.20% of the stock is currently owned by insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded down $1.15 during midday trading on Friday, reaching $49.08. 1,490,123 shares of the company traded hands, compared to its average volume of 2,935,775. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $51.86. The stock has a 50-day moving average price of $45.88 and a 200 day moving average price of $38.49. The company has a market cap of $9.38 billion, a price-to-earnings ratio of -12.00 and a beta of 1.23.

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

Analyst Ratings Changes

BBIO has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Piper Sandler boosted their price target on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a report on Monday, July 14th. UBS Group boosted their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Oppenheimer boosted their price target on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Citigroup boosted their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. Seventeen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $61.35.

BridgeBio Pharma 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.