Swedbank AB Takes Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Swedbank AB disclosed a new fourth-quarter stake in BridgeBio Pharma, buying 27,600 shares worth about $2.11 million. Institutional ownership remains very high, with hedge funds and institutions holding 99.85% of the stock.
• BridgeBio insiders have been selling shares recently, including CEO Neil Kumar and Director Randal W. Scott. Over the last 90 days, insiders sold 236,675 shares valued at roughly $16.18 million.
• The company reported quarterly results that beat revenue expectations but missed earnings estimates, and analysts remain broadly constructive. BridgeBio has a consensus rating of Moderate Buy with an average price target of $88.90.

Swedbank AB bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,600 shares of the company's stock, valued at approximately $2,111,000.

Several other institutional investors also recently bought and sold shares of the company. Strs Ohio increased its stake in BridgeBio Pharma by 1.1% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the company's stock valued at $966,000 after buying an additional 200 shares during the period. Farther Finance Advisors LLC increased its stake in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after buying an additional 245 shares during the period. State of New Jersey Common Pension Fund D increased its stake in BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock valued at $3,970,000 after buying an additional 246 shares during the period. CWM LLC increased its stake in BridgeBio Pharma by 4.3% in the 4th quarter. CWM LLC now owns 6,444 shares of the company's stock valued at $493,000 after buying an additional 265 shares during the period. Finally, Global Retirement Partners LLC increased its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock valued at $39,000 after buying an additional 372 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00. Following the transaction, the chief executive officer directly owned 615,686 shares of the company's stock, valued at $45,942,489.32. This represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director directly owned 11,589 shares in the company, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 236,675 shares of company stock worth $16,177,085. Company insiders own 14.23% of the company's stock.

BridgeBio Pharma Stock Down 1.9%

NASDAQ:BBIO opened at $66.44 on Thursday. BridgeBio Pharma, Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $84.94. The stock has a market cap of $13.01 billion, a PE ratio of -17.76 and a beta of 1.02. The firm's fifty day simple moving average is $71.20 and its 200-day simple moving average is $72.05.

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

Wall Street Analysts Forecast Growth

BBIO has been the topic of several recent research reports. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Royal Bank Of Canada initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price objective on the stock. Oppenheimer dropped their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Raymond James Financial cut shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Twenty-two 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 MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $88.90.

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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