Federated Hermes Inc. acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 255,568 shares of the company’s stock, valued at approximately $4,237,000. Federated Hermes Inc. owned about 0.16% of BridgeBio Pharma at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BBIO. Vanguard Group Inc. boosted its holdings in BridgeBio Pharma by 1.1% during the third quarter. Vanguard Group Inc. now owns 10,004,271 shares of the company’s stock worth $99,442,000 after buying an additional 108,734 shares in the last quarter. Laurion Capital Management LP boosted its holdings in BridgeBio Pharma by 9.8% during the fourth quarter. Laurion Capital Management LP now owns 2,223,254 shares of the company’s stock worth $16,941,000 after buying an additional 198,614 shares in the last quarter. Geode Capital Management LLC boosted its holdings in BridgeBio Pharma by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 2,065,907 shares of the company’s stock worth $15,742,000 after buying an additional 102,030 shares in the last quarter. Barclays PLC boosted its holdings in BridgeBio Pharma by 268.2% during the fourth quarter. Barclays PLC now owns 1,201,885 shares of the company’s stock worth $9,159,000 after buying an additional 875,468 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BridgeBio Pharma by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,079,082 shares of the company’s stock worth $10,953,000 after buying an additional 33,792 shares in the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.
BridgeBio Pharma Trading Up 1.5 %
Shares of NASDAQ BBIO opened at $31.55 on Tuesday. BridgeBio Pharma, Inc. has a twelve month low of $6.64 and a twelve month high of $36.36. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -8.41 and a beta of 0.94. The firm has a 50-day moving average of $23.41 and a two-hundred day moving average of $17.15.
Insiders Place Their Bets
In related news, CEO Neil Kumar sold 51,552 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total value of $722,243.52. Following the completion of the transaction, the chief executive officer now directly owns 4,813,197 shares in the company, valued at $67,432,889.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BridgeBio Pharma news, CEO Neil Kumar sold 51,552 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total transaction of $722,243.52. Following the transaction, the chief executive officer now owns 4,813,197 shares in the company, valued at $67,432,889.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Global Investors Lp Viking sold 1,500,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $35.00, for a total value of $52,500,000.00. Following the sale, the insider now directly owns 25,120,991 shares in the company, valued at approximately $879,234,685. The disclosure for this sale can be found here. Insiders sold 1,575,976 shares of company stock valued at $53,564,424 over the last 90 days. 28.52% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
BBIO has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, April 19th. They set an “outperform” rating and a $40.00 price objective for the company. Raymond James upped their price objective on shares of BridgeBio Pharma from $29.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 18th. Mizuho upped their price objective on shares of BridgeBio Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research increased their target price on shares of BridgeBio Pharma from $32.00 to $42.00 in a research report on Tuesday, July 18th. Finally, Jefferies Financial Group cut shares of BridgeBio Pharma from a “buy” rating to a “hold” rating and increased their target price for the company from $24.00 to $33.00 in a research report on Monday, July 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.80.
View Our Latest Report on BridgeBio Pharma
About BridgeBio Pharma
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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