Ishara Investments LP Invests $2.75 Million in BridgeBio Pharma, Inc. $BBIO

Ishara Investments LP bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, Holdings Channel reports. The firm bought 36,000 shares of the company’s stock, valued at approximately $2,754,000. BridgeBio Pharma accounts for 3.2% of Ishara Investments LP’s investment portfolio, making the stock its 8th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth $35,000. Huntington National Bank raised its stake in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after purchasing an additional 392 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. William Blair assumed coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Citigroup began coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 target price on the stock. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Truist Financial boosted their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group began coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.05.

BridgeBio Pharma Trading Up 1.1%

Shares of NASDAQ BBIO opened at $67.39 on Thursday. BridgeBio Pharma, Inc. has a 12 month low of $39.65 and a 12 month high of $84.94. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of -18.02 and a beta of 0.97. The business has a 50-day moving average of $69.89 and a 200-day moving average of $72.04.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.88) earnings per share. On average, analysts predict that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the sale, the director owned 11,589 shares of the company’s stock, valued at $778,201.35. This represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total value of $143,160.00. Following the completion of the sale, the chief accounting officer directly owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. This represents a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 261,994 shares of company stock valued at $17,926,648 over the last 90 days. Company insiders own 14.23% of the company’s stock.

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.