American Century Companies Inc. Buys 62,646 Shares of BridgeBio Pharma, Inc. $BBIO

American Century Companies Inc. raised its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,090,134 shares of the company’s stock after purchasing an additional 62,646 shares during the period. American Century Companies Inc. owned 0.57% of BridgeBio Pharma worth $47,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of BridgeBio Pharma by 5.1% in the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after buying an additional 178,686 shares during the period. Invesco Ltd. raised its stake in BridgeBio Pharma by 147.0% during the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock worth $76,267,000 after acquiring an additional 1,313,036 shares during the period. Cormorant Asset Management LP lifted its holdings in BridgeBio Pharma by 25.0% during the first quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company’s stock valued at $69,140,000 after purchasing an additional 400,000 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of BridgeBio Pharma in the first quarter worth approximately $51,874,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company’s stock worth $40,274,000 after purchasing an additional 173,729 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the transaction, the chief executive officer owned 855,686 shares in the company, valued at $46,874,479.08. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald J. Daniels sold 61,031 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the completion of the sale, the director owned 16,991 shares of the company’s stock, valued at $1,082,666.52. This trade represents a 78.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 629,204 shares of company stock valued at $39,424,400 over the last three months. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. TD Cowen upped their price objective on BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Truist Financial reiterated a “buy” rating and set a $80.00 target price (up previously from $66.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, October 8th. Finally, Oppenheimer upped their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Twenty equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $71.61 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $25.34 and a 1-year high of $72.28. The business’s 50 day moving average is $59.75 and its two-hundred day moving average is $49.77. The stock has a market capitalization of $13.80 billion, a P/E ratio of -17.13 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The firm had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. The business’s revenue for the quarter was up 4318.0% on a year-over-year basis. During the same period last year, the business posted ($0.86) EPS. As a group, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

About BridgeBio Pharma

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.