PFG Investments LLC Takes Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• PFG Investments LLC acquired 5,900 shares of BridgeBio Pharma, valued at about $255,000, as part of a growing trend of institutional investment in the biopharmaceutical company.
• BridgeBio Pharma received positive analyst ratings, with seventeen analysts giving it a Buy rating and an average target price of $63.94.
• Despite a recent 0.8% decrease in stock value, BridgeBio reported a significant revenue increase of 4999.9% year-over-year in its last quarterly earnings report.

PFG Investments LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,900 shares of the company's stock, valued at approximately $255,000.

A number of other hedge funds also recently made changes to their positions in the business. Moss Adams Wealth Advisors LLC lifted its position in shares of BridgeBio Pharma by 49.2% in the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company's stock valued at $1,044,000 after buying an additional 7,970 shares during the last quarter. LVW Advisors LLC acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $202,000. Retirement Income Solutions Inc acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $216,000. Atle Fund Management AB lifted its position in shares of BridgeBio Pharma by 9.3% in the second quarter. Atle Fund Management AB now owns 165,480 shares of the company's stock valued at $7,145,000 after buying an additional 14,132 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of BridgeBio Pharma by 10.7% in the second quarter. Diversified Trust Co now owns 38,605 shares of the company's stock valued at $1,667,000 after buying an additional 3,739 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BBIO. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Truist Financial initiated coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 target price on the stock. Scotiabank increased their target price on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, August 6th. Piper Sandler increased their target price on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Raymond James Financial initiated coverage on BridgeBio Pharma in a research note on Wednesday, July 30th. They set an "outperform" rating and a $56.00 target price on the stock. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $63.94.

Insider Buying and Selling at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 1,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $45.44, for a total transaction of $45,440.00. Following the sale, the chief accounting officer owned 141,859 shares in the company, valued at $6,446,072.96. The trade was a 0.70% decrease in their position. The sale 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 business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $48.00, for a total value of $2,400,000.00. Following the sale, the director owned 916,674 shares in the company, valued at $44,000,352. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 557,913 shares of company stock worth $26,843,027 over the last three months. 18.20% of the stock is owned by corporate insiders.

BridgeBio Pharma Stock Down 0.8%

Shares of BBIO stock opened at $52.86 on Monday. The firm has a market capitalization of $10.11 billion, a P/E ratio of -12.92 and a beta of 1.36. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $54.60. The stock's fifty day simple moving average is $50.26 and its 200 day simple moving average is $42.33.

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 during the quarter, compared to analyst estimates of $98.46 million. The firm's revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

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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