ETF Managers Group LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,597 shares of the company’s stock, valued at approximately $225,000.
Other hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of BridgeBio Pharma by 1,662.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,200,078 shares of the company’s stock valued at $11,929,000 after acquiring an additional 1,131,993 shares during the last quarter. Norges Bank acquired a new stake in BridgeBio Pharma in the 4th quarter valued at approximately $7,320,000. Renaissance Technologies LLC boosted its holdings in BridgeBio Pharma by 230.7% in the 3rd quarter. Renaissance Technologies LLC now owns 1,366,746 shares of the company’s stock valued at $13,585,000 after purchasing an additional 953,500 shares during the period. Barclays PLC boosted its holdings in BridgeBio Pharma by 268.2% in the 4th quarter. Barclays PLC now owns 1,201,885 shares of the company’s stock valued at $9,159,000 after purchasing an additional 875,468 shares during the period. Finally, Two Sigma Investments LP raised its holdings in BridgeBio Pharma by 476.0% in the 3rd quarter. Two Sigma Investments LP now owns 871,207 shares of the company’s stock valued at $8,660,000 after acquiring an additional 719,944 shares in the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently weighed in on BBIO. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. Raymond James raised their price target on BridgeBio Pharma from $17.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, March 7th. Bank of America boosted their price objective on BridgeBio Pharma from $15.00 to $18.00 in a report on Tuesday, March 7th. SVB Securities lifted their price target on shares of BridgeBio Pharma from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, April 13th. Finally, Mizuho boosted their price target on shares of BridgeBio Pharma from $23.00 to $29.00 in a research note on Monday, May 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Buy” and a consensus price target of $26.63.
BridgeBio Pharma Stock Performance
BridgeBio Pharma (NASDAQ:BBIO – Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.09). The business had revenue of $1.83 million for the quarter, compared to analyst estimates of $3.23 million. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.35) earnings per share. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -3.39 earnings per share for the current year.
Insider Buying and Selling at BridgeBio Pharma
In other BridgeBio Pharma news, CEO Neil Kumar sold 120,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $15.46, for a total transaction of $1,855,200.00. Following the transaction, the chief executive officer now directly owns 1,132,722 shares of the company’s stock, valued at $17,511,882.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 24,424 shares of BridgeBio Pharma stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total transaction of $342,180.24. Following the completion of the transaction, the chief financial officer now owns 36,408 shares in the company, valued at $510,076.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 120,000 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $15.46, for a total transaction of $1,855,200.00. Following the sale, the chief executive officer now owns 1,132,722 shares in the company, valued at approximately $17,511,882.12. The disclosure for this sale can be found here. Insiders sold a total of 251,476 shares of company stock valued at $3,777,099 in the last three months. Company insiders own 28.52% of the company’s stock.
BridgeBio Pharma Company Profile
BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.
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