Central Pacific Bank Trust Division Makes New $789,000 Investment in BridgeBio Pharma, Inc. $BBIO

Central Pacific Bank Trust Division bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,316 shares of the company’s stock, valued at approximately $789,000.

Several other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma during the first quarter valued at $35,000. Creative Planning raised its stake in shares of BridgeBio Pharma by 22.7% in the second quarter. Creative Planning now owns 75,288 shares of the company’s stock valued at $3,251,000 after buying an additional 13,924 shares during the period. Cetera Investment Advisers lifted its position in shares of BridgeBio Pharma by 60.6% during the 2nd quarter. Cetera Investment Advisers now owns 82,810 shares of the company’s stock valued at $3,576,000 after buying an additional 31,251 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of BridgeBio Pharma by 124.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 38,766 shares of the company’s stock valued at $1,674,000 after buying an additional 21,531 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of BridgeBio Pharma by 6.9% during the 2nd quarter. Swiss National Bank now owns 254,400 shares of the company’s stock worth $10,985,000 after acquiring an additional 16,400 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the subject of several recent research reports. Morgan Stanley lifted their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. HC Wainwright increased their target price on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Oppenheimer reduced their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company upped their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Twenty-four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Insider Transactions at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the sale, the chief financial officer owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $68.73, for a total transaction of $2,749,200.00. Following the completion of the sale, the chief executive officer owned 655,686 shares in the company, valued at $45,065,298.78. This represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 237,084 shares of company stock valued at $16,608,419. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $68.54 on Friday. The business’s fifty day moving average is $72.53 and its 200 day moving average is $66.73. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of -18.13 and a beta of 1.13. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. The firm’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.40) EPS. Equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

About BridgeBio Pharma

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.