VIRGINIA RETIREMENT SYSTEMS ET Al Increases Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Virginia Retirement Systems boosted its stake in BridgeBio Pharma by 146.2% in the fourth quarter, ending with 25,850 shares worth about $1.98 million.
• Analysts remain largely upbeat on the stock, with several firms raising price targets; overall, BridgeBio has a Moderate Buy consensus and an average target price of $88.19.
• BridgeBio reported quarterly revenue of $194.5 million, up 66.8% year over year, but still posted a loss of $0.84 per share, missing analyst earnings expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 146.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,850 shares of the company's stock after purchasing an additional 15,350 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in BridgeBio Pharma were worth $1,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of 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 purchasing an additional 245 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $34,000. First Horizon Corp acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $36,000. Finally, Huntington National Bank lifted its holdings in shares of BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company's stock valued at $39,000 after buying an additional 392 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. William Blair initiated coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an "outperform" rating for the company. Royal Bank Of Canada initiated coverage on BridgeBio Pharma in a report on Thursday, April 9th. They set an "outperform" rating and a $100.00 price objective for the company. Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Finally, HC Wainwright lifted their price objective on BridgeBio Pharma from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Twenty-four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and a consensus target price of $88.19.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $66.13 on Friday. The stock has a fifty day moving average of $71.38 and a two-hundred day moving average of $71.73. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of -17.68 and a beta of 1.02. BridgeBio Pharma, Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analysts' expectations of $178.07 million. The business's revenue was up 66.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.88) EPS. On average, analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the completion of the sale, the director owned 11,589 shares of the company's stock, valued at $874,505.94. The trade was a 46.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the sale, the chief executive officer directly owned 575,686 shares of the company's stock, valued at approximately $39,089,079.40. This represents a 6.50% 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 ninety days, insiders have sold 239,084 shares of company stock valued at $16,615,979. 14.23% of the stock is currently owned by insiders.

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.

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