Edgestream Partners L.P. Makes New $1.92 Million Investment in BridgeBio Pharma, Inc. $BBIO

Edgestream Partners L.P. purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,556 shares of the company’s stock, valued at approximately $1,924,000.

A number of other large investors have also recently modified their holdings of the company. Moss Adams Wealth Advisors LLC raised its position in BridgeBio Pharma by 49.2% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock valued at $1,044,000 after purchasing an additional 7,970 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of BridgeBio Pharma during the first quarter valued at $1,429,000. Intech Investment Management LLC raised its holdings in shares of BridgeBio Pharma by 12.0% in the first quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock valued at $2,542,000 after acquiring an additional 7,877 shares in the last quarter. Bryce Point Capital LLC bought a new stake in shares of BridgeBio Pharma in the second quarter valued at about $598,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in BridgeBio Pharma by 15.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,335 shares of the company’s stock worth $317,000 after acquiring an additional 971 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BBIO shares. Cantor Fitzgerald raised their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a research note on Thursday, October 30th. The Goldman Sachs Group lifted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company upped their target price on BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Piper Sandler increased their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Twenty analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $73.64 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $25.34 and a 1-year high of $75.04. The business has a fifty day moving average price of $62.01 and a 200-day moving average price of $51.15. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of -17.62 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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 business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. The business’s revenue was up 4318.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.86) EPS. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $63.72, for a total value of $3,888,895.32. Following the completion of the sale, the director directly owned 16,991 shares in the company, valued at $1,082,666.52. This trade represents a 78.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the sale, the chief executive officer directly owned 855,686 shares in the company, valued at approximately $46,874,479.08. This represents a 4.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 515,204 shares of company stock worth $33,436,960 over the last ninety days. 18.20% of the stock is currently owned by 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.