Teacher Retirement System of Texas Grows Position in BridgeBio Pharma, Inc. $BBIO

Teacher Retirement System of Texas grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,817 shares of the company’s stock after purchasing an additional 2,759 shares during the period. Teacher Retirement System of Texas’ holdings in BridgeBio Pharma were worth $1,547,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BBIO. GAMMA Investing LLC boosted its position in BridgeBio Pharma by 71.0% in the 1st 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 purchased a new stake in BridgeBio Pharma in the 1st quarter worth approximately $35,000. CWM LLC boosted its position in BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company’s stock worth $182,000 after purchasing an additional 598 shares in the last quarter. LVW Advisors LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter worth approximately $202,000. Finally, DAVENPORT & Co LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, Director Charles J. Homcy sold 250,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Trimarchi sold 42,237 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the transaction, the chief financial officer directly owned 421,081 shares in the company, valued at $20,835,087.88. This trade represents a 9.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 780,746 shares of company stock valued at $41,506,451 in the last 90 days. 18.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Oppenheimer boosted their price objective on BridgeBio Pharma from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Raymond James Financial restated an “outperform” rating and issued a $71.00 price objective (up from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Citigroup increased their target price on BridgeBio Pharma from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Cantor Fitzgerald increased their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $73.58.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $61.37 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $21.72 and a 1 year high of $69.48. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of -14.68 and a beta of 1.39. The business’s 50 day moving average price is $54.46 and its 200-day moving average price is $46.09.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $108.11 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the prior year, the company posted ($0.86) earnings per share. The business’s revenue was up 4318.0% compared to the same quarter last year. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current 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.