TD Asset Management Inc Purchases Shares of 88,950 BridgeBio Pharma, Inc. $BBIO

TD Asset Management Inc acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,950 shares of the company’s stock, valued at approximately $4,620,000.

A number of other institutional investors also recently modified their holdings of BBIO. Strs Ohio grew its position in BridgeBio Pharma by 1.1% during the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after purchasing an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake 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 buying an additional 228 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of BridgeBio Pharma by 0.3% in the second quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after buying an additional 250 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its holdings in shares of BridgeBio Pharma by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after buying an additional 372 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Sanford C. Bernstein started coverage on shares of BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price objective for the company. HC Wainwright increased their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Finally, Truist Financial upped their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $82.50.

Insider Activity

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma 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 approximately $874,505.94. The trade was a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 28,053 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.39, for a total value of $2,002,703.67. Following the completion of the sale, the chief executive officer owned 234,451 shares of the company’s stock, valued at $16,737,456.89. This trade represents a 10.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 204,174 shares of company stock worth $15,012,335 over the last three months. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $64.53 on Wednesday. The firm has a fifty day moving average of $74.30 and a two-hundred day moving average of $65.09. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of -17.07 and a beta of 1.13. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. During the same period in the previous year, the company earned ($1.40) EPS. The company’s revenue was up 2521.2% compared to the same quarter last year. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

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.