Vanguard Group Inc. Increases Stake in BridgeBio Pharma, Inc. $BBIO

Key Points

• Vanguard increased its stake by 0.2% to 16,862,691 shares (8.75% ownership) valued at about $1.29 billion, and institutional investors collectively own roughly 99.85% of BridgeBio's stock.
• BridgeBio reported Q4 EPS of -$1.00 (missing estimates) while revenue jumped to $154.2M year‑over‑year; the stock trades near $71 with a 12‑month range of $31.77–$84.94 and a market cap of about $13.9B.
• Insiders have sold 237,084 shares (~$16.6M) over the past 90 days, while Wall Street's consensus is a "Moderate Buy" (24 Buys, 1 Sell) with a $87.71 average price target.

Vanguard Group Inc. grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,862,691 shares of the company's stock after buying an additional 30,632 shares during the quarter. Vanguard Group Inc. owned 8.75% of BridgeBio Pharma worth $1,289,827,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in BridgeBio Pharma by 23.0% during the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company's stock worth $65,829,000 after purchasing an additional 236,885 shares in the last quarter. L & S Advisors Inc bought a new stake in BridgeBio Pharma during the third quarter worth approximately $877,000. TD Asset Management Inc bought a new stake in BridgeBio Pharma during the third quarter worth approximately $4,620,000. Central Pacific Bank Trust Division bought a new stake in BridgeBio Pharma during the fourth quarter worth approximately $789,000. Finally, Federated Hermes Inc. raised its holdings in BridgeBio Pharma by 53.0% during the third quarter. Federated Hermes Inc. now owns 424,695 shares of the company's stock worth $22,059,000 after purchasing an additional 147,108 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $71.11 on Friday. 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 $13.92 billion, a price-to-earnings ratio of -18.81 and a beta of 1.09. The firm's 50 day moving average price is $71.28 and its two-hundred day moving average price is $70.85.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analysts' expectations of $150.71 million. During the same quarter last year, the firm posted ($1.40) EPS. The business's quarterly revenue was up 2521.2% on a year-over-year basis. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -2.05 EPS for the current fiscal year.

Insider Activity

In other BridgeBio Pharma news, Director Andrea Ellis sold 64,921 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the transaction, the director directly owned 18,589 shares in the company, valued at approximately $1,205,868.43. The trade was a 77.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Maricel Apuli sold 510 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $74.31, for a total transaction of $37,898.10. Following the transaction, the chief accounting officer owned 123,945 shares in the company, valued at approximately $9,210,352.95. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 237,084 shares of company stock worth $16,634,419. 18.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BBIO. Barclays reissued an "overweight" rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Oppenheimer dropped their target price on BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the stock an "outperform" rating in a report on Thursday, February 12th. Finally, Morgan Stanley lifted their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Twenty-four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.71.

BridgeBio Pharma Company 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.

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.