Amalgamated Bank Grows Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Amalgamated Bank grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 24.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,863 shares of the company’s stock after buying an additional 962 shares during the period. Amalgamated Bank’s holdings in BridgeBio Pharma were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. increased its position in BridgeBio Pharma by 12.1% during the second quarter. E Fund Management Co. Ltd. now owns 16,496 shares of the company’s stock valued at $418,000 after acquiring an additional 1,785 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in BridgeBio Pharma by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 73,230 shares of the company’s stock valued at $1,855,000 after purchasing an additional 3,624 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in BridgeBio Pharma by 57.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 598,263 shares of the company’s stock worth $15,154,000 after purchasing an additional 219,257 shares during the last quarter. American Century Companies Inc. lifted its stake in BridgeBio Pharma by 20.0% in the second quarter. American Century Companies Inc. now owns 1,096,734 shares of the company’s stock worth $27,780,000 after purchasing an additional 182,623 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $48,000. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

BBIO opened at $24.80 on Wednesday. The business’s 50-day moving average is $26.16 and its two-hundred day moving average is $26.98. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a market capitalization of $4.64 billion, a PE ratio of -7.70 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. BridgeBio Pharma’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.98) EPS. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBIO shares. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Bank of America restated a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is owned by company insiders.

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.