Victory Capital Management Inc. Purchases 141,800 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Victory Capital Management boosted its stake in BridgeBio by 42%, acquiring 141,800 shares to hold 479,680 shares (about 0.25% of the company) valued at roughly $24.9 million.
• Insider selling has been notable: Director Andrea Ellis sold 64,921 shares (~$4.21M) and insiders have sold 227,095 shares worth $16.1M over the past 90 days, though insiders still own 18.2% of the stock.
• Analysts remain largely bullish with 22 Buy ratings versus 1 Sell and an average price target of $82.50, even as the company missed EPS expectations (−$1.00 vs. −$0.75) while reporting a 2,521% year‑over‑year revenue increase last quarter.

Victory Capital Management Inc. grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 42.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 479,680 shares of the company's stock after acquiring an additional 141,800 shares during the period. Victory Capital Management Inc. owned about 0.25% of BridgeBio Pharma worth $24,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBIO. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the first quarter valued at approximately $35,000. Envestnet Asset Management Inc. lifted its position in BridgeBio Pharma by 204.1% during the second quarter. Envestnet Asset Management Inc. now owns 39,487 shares of the company's stock valued at $1,705,000 after buying an additional 26,500 shares during the period. Bank of Montreal Can lifted its position in BridgeBio Pharma by 6.0% during the second quarter. Bank of Montreal Can now owns 9,865 shares of the company's stock valued at $426,000 after buying an additional 556 shares during the period. Savant Capital LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $218,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $693,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $65.64 on Tuesday. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of -17.37 and a beta of 1.13. BridgeBio Pharma, Inc. has a one year low of $28.33 and a one year high of $84.94. The company's 50-day moving average is $73.44 and its 200 day moving average is $65.56.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (EPS) 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 analyst estimates of $150.71 million. The business's revenue was up 2521.2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.40) earnings per share. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrea Ellis sold 64,921 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the transaction, the director directly owned 18,589 shares in the company, valued at $1,205,868.43. The trade was a 77.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Maricel Apuli sold 510 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the sale, the chief accounting officer owned 123,945 shares in the company, valued at approximately $9,210,352.95. This represents a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,095 shares of company stock worth $16,099,240 over the last 90 days. 18.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. TD Cowen reiterated a "buy" rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. HC Wainwright upped their price objective on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Truist Financial raised their target price on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Wells Fargo & Company lifted their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, February 13th. Finally, Leerink Partners upped their price target on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an "outperform" rating in a research note on Monday, December 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $82.50.

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.

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