Boone Capital Management LLC Invests $25.30 Million in BridgeBio Pharma, Inc. $BBIO

Boone Capital Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 339,720 shares of the company’s stock, valued at approximately $25,302,000. BridgeBio Pharma makes up approximately 5.9% of Boone Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Boone Capital Management LLC owned approximately 0.17% of BridgeBio Pharma as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Silvant Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $28,000. Allworth Financial LP acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new position in shares of BridgeBio Pharma in the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Finally, Farther Finance Advisors LLC lifted its stake 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 valued at $39,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $79.37 on Thursday. The stock has a market capitalization of $15.52 billion, a P/E ratio of -22.23 and a beta of 0.96. BridgeBio Pharma, Inc. has a 12-month low of $48.78 and a 12-month high of $93.42. The firm’s 50-day moving average is $79.62 and its two-hundred day moving average is $73.45.

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

Analyst Ratings Changes

BBIO has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Truist Financial lifted their price target on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Morgan Stanley decreased their price target on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. HC Wainwright upped their price target on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, TD Cowen raised their price objective on BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $100.79.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Hannah Valantine sold 2,808 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the sale, the director owned 11,455 shares of the company’s stock, valued at $778,940. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at approximately $36,137,377.56. The trade was a 6.95% 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. Over the last 90 days, insiders have sold 387,343 shares of company stock worth $30,289,400. Insiders own 14.23% of the company’s stock.

About BridgeBio Pharma

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.