Thrivent Financial for Lutherans Purchases Shares of 59,708 BridgeBio Pharma, Inc. $BBIO

Key Points

• Thrivent Financial for Lutherans initiated a new position in BridgeBio Pharma, buying 59,708 shares valued at about $4.57 million in the fourth quarter.
• Wall Street sentiment remains upbeat: multiple firms, including RBC, Raymond James, Wells Fargo, William Blair, and Morgan Stanley, issued bullish ratings, with the stock carrying a “Moderate Buy” consensus and an average price target of $88.90.
• BridgeBio reported mixed quarterly results, missing EPS expectations but beating revenue estimates with $194.52 million in sales, while insiders have also been selling shares in recent weeks.

Thrivent Financial for Lutherans purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,708 shares of the company's stock, valued at approximately $4,567,000.

A number of other hedge funds also recently bought and sold shares of the company. Strs Ohio boosted its holdings in BridgeBio Pharma by 1.1% during the third quarter. Strs Ohio now owns 18,600 shares of the company's stock valued at $966,000 after acquiring an additional 200 shares during the period. Farther Finance Advisors LLC boosted its holdings in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after acquiring an additional 245 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in BridgeBio Pharma by 0.5% during the fourth 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 acquiring an additional 246 shares during the period. CWM LLC boosted its holdings in BridgeBio Pharma by 4.3% during the fourth quarter. CWM LLC now owns 6,444 shares of the company's stock valued at $493,000 after acquiring an additional 265 shares during the period. Finally, Huntington National Bank boosted its holdings in BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company's stock valued at $39,000 after acquiring an additional 392 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BBIO. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an "outperform" rating and a $100.00 price target for the company. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an "outperform" rating in a research note on Thursday, February 12th. Wells Fargo & Company increased their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. William Blair assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an "outperform" rating for the company. Finally, Morgan Stanley increased their target price on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.90.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $69.12 on Friday. The firm has a 50-day simple moving average of $71.30 and a 200 day simple moving average of $71.86. BridgeBio Pharma, Inc. has a twelve month low of $31.77 and a twelve month high of $84.94. The stock has a market cap of $13.54 billion, a PE ratio of -18.48 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 business had revenue of $194.52 million for the quarter, compared to analysts' expectations of $178.07 million. The firm's revenue for the quarter was up 66.8% on a year-over-year basis. During the same period last year, the company posted ($0.88) EPS. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total transaction of $143,160.00. Following the completion of the transaction, the chief accounting officer owned 134,115 shares in the company, valued at $9,599,951.70. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the firm's stock in a transaction dated 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 owned 11,589 shares of the company's stock, valued at approximately $778,201.35. This 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. Over the last quarter, insiders have sold 210,572 shares of company stock valued at $14,364,492. 14.23% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding BBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.