Oak Ridge Investments LLC Purchases New Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Oak Ridge Investments LLC acquired a new stake in BridgeBio Pharma, purchasing 28,493 shares valued at approximately $1,230,000 during the second quarter.
• Institutional investors own 99.85% of BridgeBio Pharma, indicating strong institutional support for the stock.
• BridgeBio Pharma's quarterly revenue surged by 4999.9% year-over-year, reporting $110.57 million despite a loss of ($0.95) EPS, which missed estimates.

Oak Ridge Investments LLC purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,493 shares of the company's stock, valued at approximately $1,230,000.

Several other institutional investors have also recently added to or reduced their stakes in BBIO. Driehaus Capital Management LLC acquired a new position in BridgeBio Pharma in the 1st quarter valued at about $51,874,000. Invesco Ltd. increased its position in BridgeBio Pharma by 147.0% in the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock valued at $76,267,000 after acquiring an additional 1,313,036 shares during the period. Duquesne Family Office LLC acquired a new position in BridgeBio Pharma in the 1st quarter valued at about $15,143,000. Nuveen LLC acquired a new position in BridgeBio Pharma in the 1st quarter valued at about $14,973,000. Finally, Cormorant Asset Management LP increased its position in BridgeBio Pharma by 25.0% in the 1st quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company's stock valued at $69,140,000 after acquiring an additional 400,000 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 other news, Director Frank Mccormick sold 74,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the sale, the director owned 83,275 shares of the company's stock, valued at $4,426,899. The trade was a 47.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Trimarchi sold 42,237 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the sale, the chief financial officer directly owned 421,081 shares in the company, valued at $20,835,087.88. This trade represents a 9.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 597,913 shares of company stock worth $29,034,227. Corporate insiders own 18.20% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $55.49 on Friday. The business's 50 day simple moving average is $51.09 and its 200-day simple moving average is $42.93. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of -13.57 and a beta of 1.36. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $55.94.

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

Analyst Ratings Changes

BBIO has been the topic of several recent research reports. Truist Financial initiated coverage on BridgeBio Pharma in a research report on Monday, July 21st. They issued a "buy" rating and a $66.00 price target on the stock. Wolfe Research initiated coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Bank of America boosted their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company boosted their target price on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Seventeen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $63.94.

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.

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