VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in BridgeBio Pharma, Inc. $BBIO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,300 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the first quarter worth about $35,000. LVW Advisors LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth about $202,000. DAVENPORT & Co LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth about $207,000. Finally, GF Fund Management CO. LTD. grew its holdings in shares of BridgeBio Pharma by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company’s stock worth $167,000 after buying an additional 871 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 42,237 shares of the business’s 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 transaction, the chief financial officer directly owned 421,081 shares of the company’s stock, valued at approximately $20,835,087.88. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles J. Homcy sold 250,000 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 966,674 shares in the company, valued at approximately $44,515,337.70. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 597,913 shares of company stock valued at $29,034,227. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $54.26 on Monday. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $57.49. The firm has a 50 day moving average price of $52.42 and a 200 day moving average price of $44.55. The company has a market cap of $10.37 billion, a price-to-earnings ratio of -13.27 and a beta of 1.36.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (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 analysts’ expectations of $98.46 million. The business’s revenue for the quarter was up 4999.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) EPS. Sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Friday. Truist Financial began coverage on shares of BridgeBio Pharma in a report on Monday, July 21st. They issued a “buy” rating and a $66.00 target price for the company. Finally, UBS Group boosted their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

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.