Aisling Capital Management LP Has $316.29 Million Position in BridgeBio Pharma, Inc. $BBIO

Aisling Capital Management LP raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,089,611 shares of the company’s stock after buying an additional 21,486 shares during the period. BridgeBio Pharma comprises 69.3% of Aisling Capital Management LP’s portfolio, making the stock its largest holding. Aisling Capital Management LP owned 3.16% of BridgeBio Pharma worth $316,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at $84,488,000. Invesco Ltd. grew its holdings in BridgeBio Pharma by 27.0% during the second quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock valued at $120,950,000 after purchasing an additional 594,902 shares during the period. Franklin Resources Inc. increased its position in BridgeBio Pharma by 142.1% in the second quarter. Franklin Resources Inc. now owns 821,405 shares of the company’s stock worth $35,468,000 after buying an additional 482,149 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after buying an additional 347,074 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of BridgeBio Pharma by 280.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 465,401 shares of the company’s stock valued at $20,096,000 after buying an additional 343,158 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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 report on Wednesday, February 25th. Wells Fargo & Company upped their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Barclays started coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 28th. They set an “overweight” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.50.

BridgeBio Pharma Stock Performance

BBIO opened at $64.53 on Wednesday. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of -17.07 and a beta of 1.13. The company has a fifty day moving average of $74.30 and a 200 day moving average of $65.09. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly 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 for the quarter, compared to analyst estimates of $150.71 million. The firm’s quarterly revenue was up 2521.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.40) EPS. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the transaction, the director directly owned 11,589 shares of the company’s stock, valued at approximately $874,505.94. This represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Maricel Apuli sold 510 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the transaction, the chief accounting officer owned 123,945 shares of the company’s stock, valued at $9,210,352.95. This represents a 0.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 204,174 shares of company stock valued at $15,012,335 over the last three months. Corporate insiders own 18.20% of the company’s stock.

BridgeBio Pharma 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.