Strs Ohio Makes New Investment in BridgeBio Pharma, Inc. $BBIO

Key Points

• Strs Ohio has made a new investment in BridgeBio Pharma, Inc., purchasing 11,800 shares valued at approximately $408,000 during the first quarter of the year.
• Insider trading activity shows that CAO Maricel Apuli and Director Charles J. Homcy sold shares of BridgeBio Pharma, with total sales reaching nearly $2.45 million in August.
• Analysts have raised target prices for BridgeBio Pharma, with a consensus rating of "Buy" and an average target price of $63.94, indicating positive market sentiment.

Strs Ohio bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 11,800 shares of the company's stock, valued at approximately $408,000.

Other hedge funds have also recently bought and sold shares of the company. Wealth Management Associates Inc. grew its stake in shares of BridgeBio Pharma by 19.0% during the 1st quarter. Wealth Management Associates Inc. now owns 8,980 shares of the company's stock worth $310,000 after acquiring an additional 1,435 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of BridgeBio Pharma by 12.0% during the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company's stock worth $2,542,000 after acquiring an additional 7,877 shares in the last quarter. Zimmer Partners LP grew its stake in shares of BridgeBio Pharma by 67.1% during the 1st quarter. Zimmer Partners LP now owns 301,400 shares of the company's stock worth $10,419,000 after acquiring an additional 121,000 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $982,000. Finally, Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the first quarter valued at $35,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,000 shares of BridgeBio Pharma 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 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 trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of BridgeBio Pharma 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 directly owned 916,674 shares of the company's stock, valued at $44,000,352. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,102,620 shares of company stock worth $182,751,970. 18.20% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $51.54 on Tuesday. The business has a fifty day simple moving average of $49.31 and a two-hundred day simple moving average of $41.14. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $54.60. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of -12.60 and a beta of 1.25.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (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 analyst estimates of $98.46 million. During the same period last year, the company earned ($0.39) earnings per share. BridgeBio Pharma's revenue was up 4999.9% on a year-over-year basis. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BBIO has been the subject of several analyst reports. Scotiabank raised their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research note on Wednesday, August 6th. Oppenheimer raised their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Piper Sandler raised their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of "Buy" and an average price target of $63.94.

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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