E Fund Management Co. Ltd. Buys New Shares in BridgeBio Pharma, Inc. $BBIO

E Fund Management Co. Ltd. bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,070 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds have also added to or reduced their stakes in the company. First Bank & Trust boosted its position in BridgeBio Pharma by 1.6% during the second quarter. First Bank & Trust now owns 8,797 shares of the company’s stock valued at $655,000 after buying an additional 142 shares during the period. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,646 shares of the company’s stock valued at $123,000 after buying an additional 199 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of BridgeBio Pharma by 4.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock worth $396,000 after buying an additional 244 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of BridgeBio Pharma by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company’s stock valued at $3,970,000 after acquiring an additional 246 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Insider Transactions at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the sale, the director directly owned 22,579 shares in the company, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total value of $840,300.00. Following the transaction, the chief executive officer directly owned 505,686 shares in the company, valued at $42,492,794.58. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 387,343 shares of company stock worth $30,289,400. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Trading Down 1.2%

BridgeBio Pharma stock opened at $82.94 on Friday. The firm has a market cap of $16.21 billion, a P/E ratio of -23.23 and a beta of 0.96. BridgeBio Pharma, Inc. has a 1-year low of $46.81 and a 1-year high of $93.42. The firm has a 50-day moving average of $78.55 and a 200-day moving average of $73.26.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. BridgeBio Pharma’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Citigroup boosted their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Morgan Stanley cut their target price on shares of BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Bank of America lifted their target price on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

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.