Xponance Inc. Acquires New Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Xponance Inc. acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,962 shares of the company’s stock, valued at approximately $281,000.

A number of other large investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of BridgeBio Pharma by 1.6% during the third quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock valued at $663,000 after acquiring an additional 386 shares during the last quarter. Diversified Trust Co lifted its position in BridgeBio Pharma by 2.5% during the third quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock worth $451,000 after buying an additional 411 shares during the period. Amalgamated Bank lifted its position in BridgeBio Pharma by 3.8% during the third quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock worth $416,000 after buying an additional 576 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in BridgeBio Pharma by 4.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock worth $403,000 after buying an additional 720 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in BridgeBio Pharma by 1.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,773 shares of the company’s stock worth $2,655,000 after buying an additional 904 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BBIO. Raymond James began coverage on BridgeBio Pharma in a research report on Thursday, March 21st. They set an “outperform” rating and a $45.00 target price on the stock. BMO Capital Markets began coverage on BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 target price on the stock. Mizuho reduced their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 target price on shares of BridgeBio Pharma in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.82.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $24.88 on Friday. The stock’s 50-day moving average is $29.42 and its 200-day moving average is $31.76. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -6.31 and a beta of 1.03. BridgeBio Pharma, Inc. has a 12 month low of $12.75 and a 12 month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. BridgeBio Pharma’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.92) EPS. Research analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 EPS for the current year.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 28.52% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.