Praxis Investment Management Inc. Buys Shares of 5,170 BridgeBio Pharma, Inc. $BBIO

Praxis Investment Management Inc. bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,170 shares of the company's stock, valued at approximately $223,000.

Several other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in BridgeBio Pharma by 147.0% during the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock valued at $76,267,000 after purchasing an additional 1,313,036 shares during the period. Cormorant Asset Management LP raised its holdings in shares of BridgeBio Pharma by 25.0% during the first quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company's stock worth $69,140,000 after acquiring an additional 400,000 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of BridgeBio Pharma during the first quarter worth $51,874,000. Price T Rowe Associates Inc. MD raised its holdings in shares of BridgeBio Pharma by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company's stock worth $40,274,000 after acquiring an additional 173,729 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of BridgeBio Pharma by 9.3% during the first quarter. Principal Financial Group Inc. now owns 1,148,292 shares of the company's stock worth $39,696,000 after acquiring an additional 98,153 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Down 0.2%

Shares of NASDAQ:BBIO opened at $54.92 on Monday. The stock has a market capitalization of $10.50 billion, a PE ratio of -13.43 and a beta of 1.36. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $57.49. The firm has a fifty day moving average price of $51.99 and a 200 day moving average price of $43.73.

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 (EPS) 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 analysts' expectations of $98.46 million. The company's quarterly revenue was up 4999.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.39) EPS. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Frank Mccormick sold 74,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the completion of the sale, the director directly owned 83,275 shares in the company, valued at $4,426,899. This represents a 47.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Maricel Apuli sold 1,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were 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 of the company's stock, valued at $6,446,072.96. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 597,913 shares of company stock valued at $29,034,227. 18.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on BridgeBio Pharma in a report on Monday, July 14th. They set a "buy" rating and a $70.00 price objective for the company. Bank of America increased their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Raymond James Financial assumed coverage on BridgeBio Pharma in a report on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Finally, Truist Financial began coverage on BridgeBio Pharma in a report on Monday, July 21st. They set a "buy" rating and a $66.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.06.

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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