Retirement Income Solutions Inc Acquires Shares of 5,000 BridgeBio Pharma, Inc. $BBIO

Key Points

• Retirement Income Solutions Inc acquired 5,000 shares of BridgeBio Pharma, valued at approximately $216,000, reflecting increased institutional interest in the company.
• Analysts have issued favorable ratings for BridgeBio Pharma, with target prices ranging from $49.00 to $82.00, indicating a strong market outlook.
• BridgeBio Pharma reported significant revenue growth of 4999.9% year-over-year, despite posting a quarterly loss of ($0.95) EPS, which missed consensus estimates.

Retirement Income Solutions Inc acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atle Fund Management AB grew its holdings in BridgeBio Pharma by 9.3% in the 2nd 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 in the last quarter. Diversified Trust Co grew its holdings in BridgeBio Pharma by 10.7% in the 2nd 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 in the last quarter. First Bank & Trust grew its holdings in BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company's stock valued at $381,000 after buying an additional 329 shares in the last quarter. Rhumbline Advisers grew its holdings in BridgeBio Pharma by 0.5% in the 1st quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock valued at $7,610,000 after buying an additional 1,008 shares in the last quarter. Finally, Strs Ohio acquired a new position in BridgeBio Pharma in the 1st quarter valued at $408,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on BBIO shares. UBS Group increased their target price on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wolfe Research started coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price on the stock. Citigroup increased their target price on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company increased their target price on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Seventeen analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $63.94.

BridgeBio Pharma Trading Down 0.1%

BridgeBio Pharma stock opened at $51.50 on Wednesday. The company has a market capitalization of $9.85 billion, a PE ratio of -12.59 and a beta of 1.25. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $54.60. The stock has a 50-day moving average price of $49.40 and a two-hundred day moving average price of $41.21.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its 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 business had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. The company's revenue was up 4999.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.39) EPS. As a group, analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Maricel Apuli sold 1,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $45.44, for a total value of $45,440.00. Following the completion of the sale, the chief accounting officer owned 141,859 shares of the company's stock, valued at approximately $6,446,072.96. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the completion of the sale, the director directly owned 916,674 shares of the company's stock, valued at approximately $44,000,352. The trade was a 5.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,102,620 shares of company stock valued at $182,751,970. Corporate insiders own 18.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.