Seven Grand Managers LLC Invests $3.82 Million in BridgeBio Pharma, Inc. $BBIO

Key Points

• Seven Grand Managers LLC disclosed a new stake in BridgeBio Pharma, buying 50,000 shares worth about $3.82 million in the fourth quarter.
• Institutional ownership remains extremely high at 99.85%, and several other funds also boosted or initiated positions, while insiders have sold $16.2 million of stock over the past three months.
• Analysts are mixed but generally constructive: BridgeBio has a Moderate Buy consensus with an average price target of $88.90, though Weiss Ratings reiterated a sell rating and the company recently missed EPS estimates despite strong revenue growth.

Seven Grand Managers LLC bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $3,824,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of BridgeBio Pharma by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company's stock worth $344,689,000 after purchasing an additional 502,582 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company's stock worth $43,000 after purchasing an additional 508 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $17,776,000. Swedbank AB bought a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $2,111,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $243,000. Institutional investors own 99.85% of the company's stock.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrea Ellis sold 64,921 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the transaction, the director owned 18,589 shares of the company's stock, valued at approximately $1,205,868.43. This trade represents a 77.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Randal W. Scott sold 10,000 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the sale, the director owned 11,589 shares in the company, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 236,675 shares of company stock valued at $16,177,085 over the last three months. Insiders own 14.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BBIO shares. Weiss Ratings restated a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. HC Wainwright raised their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Citigroup initiated coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 10th. Finally, Royal Bank Of Canada initiated coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price target for the company. Twenty-two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.90.

BridgeBio Pharma Stock Down 1.9%

Shares of BBIO stock opened at $66.44 on Thursday. The stock has a fifty day moving average of $71.20 and a 200 day moving average of $72.05. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of -17.76 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the firm earned ($0.88) earnings per share. The firm's revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

BridgeBio Pharma Profile

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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