Janus Henderson Group PLC Has $978.61 Million Position in BridgeBio Pharma, Inc. $BBIO

Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 19.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,179,013 shares of the company’s stock after purchasing an additional 2,178,556 shares during the period. Janus Henderson Group PLC owned about 0.07% of BridgeBio Pharma worth $978,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the third quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the 1st quarter valued at $35,000. Farther Finance Advisors LLC lifted its stake in shares of BridgeBio Pharma by 91.4% in the 4th 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 last quarter. Global Retirement Partners LLC increased its position in BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in BridgeBio Pharma during the fourth quarter valued at about $41,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the sale, the chief executive officer owned 575,686 shares in the company, valued at approximately $39,089,079.40. This trade represents a 6.50% decrease in their position. The sale was disclosed in a legal 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, Director Jennifer E. Cook sold 148,589 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the sale, the director directly owned 8,383 shares in the company, valued at $742,230.82. The trade was a 94.66% 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. Over the last ninety days, insiders sold 430,117 shares of company stock valued at $32,490,580. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $83.54 on Thursday. The company’s fifty day moving average is $73.76 and its two-hundred day moving average is $72.74. BridgeBio Pharma, Inc. has a 52-week low of $42.09 and a 52-week high of $93.42. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of -22.34 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. During the same period in the prior year, the company earned ($0.88) earnings per share. The business’s revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of analyst reports. Royal Bank Of Canada started coverage on BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective on the stock. Raymond James Financial lowered shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Truist Financial upped their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Mizuho lowered their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.21.

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.