Castleark Management LLC Purchases Shares of 78,497 BridgeBio Pharma, Inc. $BBIO

Castleark Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 78,497 shares of the company’s stock, valued at approximately $5,846,000.

A number of other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma in the first quarter worth about $35,000. First Trust Advisors LP raised its position in BridgeBio Pharma by 200.4% during the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after acquiring an additional 175,918 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in BridgeBio Pharma by 1.8% in the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after acquiring an additional 731 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in BridgeBio Pharma in the second quarter valued at approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BridgeBio Pharma by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after purchasing an additional 2,206 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 505,686 shares of the company’s stock, valued at $42,492,794.58. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the sale, the director directly owned 22,579 shares of the company’s stock, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 387,343 shares of company stock valued at $30,289,400 over the last 90 days. 14.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BBIO shares. Canaccord Genuity Group raised their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Mizuho dropped their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Piper Sandler lifted their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their price objective on shares of BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Twenty 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.79.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $80.40 on Wednesday. The company has a market capitalization of $15.72 billion, a PE ratio of -22.52 and a beta of 0.96. BridgeBio Pharma, Inc. has a fifty-two week low of $47.26 and a fifty-two week high of $93.42. The firm has a 50 day moving average price of $79.38 and a 200 day moving average price of $73.34.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) 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. During the same period last year, the business earned ($0.95) EPS. BridgeBio Pharma’s revenue for the quarter was up 120.4% compared to the same quarter last year. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

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.