BridgeBio Pharma, Inc. $BBIO Shares Purchased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 331,302 shares of the company’s stock after purchasing an additional 13,015 shares during the quarter. Artisan Partners Limited Partnership’s holdings in BridgeBio Pharma were worth $17,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio increased its stake in BridgeBio Pharma by 1.1% during 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. GAMMA Investing LLC lifted its stake in shares of BridgeBio Pharma by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after acquiring an additional 227 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 22.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after acquiring an additional 228 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of BridgeBio Pharma by 0.3% during the second quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after acquiring an additional 250 shares during the period. Finally, Main Management ETF Advisors LLC raised its holdings in BridgeBio Pharma by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock worth $981,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.7%

Shares of BridgeBio Pharma stock opened at $66.48 on Friday. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $84.94. The stock has a market cap of $12.89 billion, a PE ratio of -17.59 and a beta of 1.13. The business has a fifty day simple moving average of $74.76 and a 200-day simple moving average of $64.80.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. The business’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.40) EPS. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the transaction, the director directly owned 11,589 shares in the company, valued at $874,505.94. This trade represents a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the sale, the chief accounting officer owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 204,174 shares of company stock worth $15,012,335. Company insiders own 18.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BBIO shares. Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Morgan Stanley lifted their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday. Leerink Partners upped their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Truist Financial raised their price objective on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer lowered 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. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

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.