Inspire Advisors LLC Invests $651,000 in BridgeBio Pharma, Inc. $BBIO

Inspire Advisors LLC purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,542 shares of the company’s stock, valued at approximately $651,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after acquiring an additional 228 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of BridgeBio Pharma by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock worth $3,185,000 after acquiring an additional 250 shares during the period. Main Management ETF Advisors LLC increased its stake in BridgeBio Pharma by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after purchasing an additional 372 shares in the last quarter. Finally, Wealth Management Associates Inc. raised its holdings in BridgeBio Pharma by 4.7% during the third quarter. Wealth Management Associates Inc. now owns 8,900 shares of the company’s stock worth $462,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BBIO shares. Piper Sandler upped their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Evercore ISI reiterated an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Morgan Stanley began coverage on shares of BridgeBio Pharma in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price for the company. Finally, Cantor Fitzgerald lifted their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Twenty-two 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.85.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrew Lo sold 55,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the transaction, the director owned 50,583 shares of the company’s stock, valued at $3,322,797.27. This represents a 52.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction 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 of the company’s stock, valued at approximately $1,082,666.52. This represents a 78.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 587,215 shares of company stock worth $39,569,101 in the last three months. 18.20% of the stock is currently owned by insiders.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $76.26 on Tuesday. BridgeBio Pharma, Inc. has a 12-month low of $28.33 and a 12-month high of $79.88. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of -18.24 and a beta of 1.17. The company’s 50-day moving average is $73.24 and its two-hundred day moving average is $59.35.

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

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.