Quantinno Capital Management LP Purchases 21,464 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Quantinno Capital Management increased its BridgeBio Pharma position by 199.2% in the first quarter, purchasing 21,464 additional shares and bringing its holdings to 32,240 shares valued at approximately $2.4 million.
• Institutional investors own 99.85% of BridgeBio’s stock, with several major funds—including Janus Henderson, T. Rowe Price, Norges Bank and Wellington Management—recently increasing or initiating positions.
• BridgeBio reported quarterly revenue of $243.7 million, up 120.4% year over year, but its adjusted loss of $0.78 per share missed estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.33, while insiders sold nearly $29.9 million in shares over the past three months.

Quantinno Capital Management LP increased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 199.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,240 shares of the company's stock after purchasing an additional 21,464 shares during the quarter. Quantinno Capital Management LP's holdings in BridgeBio Pharma were worth $2,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma during the fourth quarter valued at $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company's stock worth $292,862,000 after acquiring an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company's stock worth $841,349,000 after acquiring an additional 2,259,378 shares in the last quarter. Norges Bank purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $116,802,000. Finally, Wellington Management Group LLP lifted its position in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company's stock valued at $179,654,000 after acquiring an additional 1,329,537 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the transaction, the chief executive officer owned 535,686 shares in the company, valued at $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the sale, the director owned 22,579 shares in the company, valued at $1,896,636. This represents a 43.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 392,117 shares of company stock valued at $29,934,700 over the last three months. Corporate insiders own 14.23% of the company's stock.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $84.67 on Tuesday. BridgeBio Pharma, Inc. has a one year low of $46.28 and a one year high of $93.42. The stock has a market capitalization of $16.55 billion, a PE ratio of -22.64 and a beta of 0.96. The business's fifty day moving average is $76.07 and its 200 day moving average is $73.03.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. The business's revenue was up 120.4% compared to the same quarter last year. During the same period last year, the business posted ($0.95) earnings per share. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBIO. Truist Financial upped their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Mizuho dropped their price target on BridgeBio Pharma from $106.00 to $96.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 16th. Citigroup upped their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Canaccord Genuity Group initiated coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a "buy" rating and a $104.00 price objective for the company. Finally, Raymond James Financial cut BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.33.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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