Intech Investment Management LLC Purchases 7,877 Shares of BridgeBio Pharma, Inc. $BBIO

Intech Investment Management LLC lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,524 shares of the company’s stock after purchasing an additional 7,877 shares during the period. Intech Investment Management LLC’s holdings in BridgeBio Pharma were worth $2,542,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. GF Fund Management CO. LTD. bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $109,000. CWM LLC raised its holdings in shares of BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company’s stock valued at $182,000 after purchasing an additional 598 shares during the period. Finally, Commerce Bank bought a new position in BridgeBio Pharma in the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 42,237 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the completion of the sale, the chief financial officer owned 421,081 shares of the company’s stock, valued at $20,835,087.88. This represents a 9.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles J. Homcy sold 250,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the completion of the sale, the director directly owned 966,674 shares of the company’s stock, valued at approximately $44,515,337.70. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,202,620 shares of company stock worth $187,174,970 in the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BBIO. Scotiabank raised their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group assumed coverage on BridgeBio Pharma in a research report on Monday, July 14th. They set a “buy” rating and a $70.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $63.94.

BridgeBio Pharma Stock Up 0.5%

BridgeBio Pharma stock opened at $51.47 on Tuesday. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $54.60. The firm has a 50 day moving average price of $48.70 and a 200-day moving average price of $40.47. The company has a market capitalization of $9.84 billion, a P/E ratio of -12.58 and a beta of 1.25.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The company’s quarterly revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.39) EPS. Equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

BridgeBio Pharma 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.