Federated Hermes Inc. Takes Position in BridgeBio Pharma, Inc. $BBIO

Federated Hermes Inc. 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 & Exchange Commission. The fund bought 277,587 shares of the company’s stock, valued at approximately $11,986,000. Federated Hermes Inc. owned about 0.15% of BridgeBio Pharma as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in BridgeBio Pharma in the second quarter worth about $25,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the 1st quarter valued at about $35,000. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 22.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares during the last quarter. LVW Advisors LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $202,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of BridgeBio Pharma during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BBIO shares. Leerink Partners set a $68.00 price objective on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research note on Monday, October 27th. UBS Group increased their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Truist Financial reaffirmed a “buy” rating and set a $80.00 price objective (up from $66.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Twenty-one equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.65, for a total transaction of $666,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at approximately $772,406.85. This represents a 46.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Trimarchi sold 16,934 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the sale, the chief financial officer owned 382,830 shares in the company, valued at $25,442,881.80. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 557,204 shares of company stock valued at $36,561,480 over the last 90 days. Insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Up 1.4%

Shares of BBIO stock opened at $72.70 on Thursday. BridgeBio Pharma, Inc. has a 12-month low of $25.34 and a 12-month high of $75.10. The firm has a fifty day moving average of $63.23 and a 200-day moving average of $52.10. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of -17.39 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last issued 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 $120.70 million during the quarter, compared to analyst estimates of $107.71 million. The company’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.86) earnings per share. Research 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.