DNB Asset Management AS Acquires Shares of 10,423 BridgeBio Pharma, Inc. $BBIO

DNB Asset Management AS bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,423 shares of the company’s stock, valued at approximately $541,000.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in BridgeBio Pharma in the 2nd quarter valued at about $84,488,000. Invesco Ltd. grew its stake in shares of BridgeBio Pharma by 27.0% in the 2nd 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 last quarter. Franklin Resources Inc. grew its stake in shares of BridgeBio Pharma by 142.1% in the 2nd quarter. Franklin Resources Inc. now owns 821,405 shares of the company’s stock valued at $35,468,000 after purchasing an additional 482,149 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $874,257,000 after purchasing an additional 347,074 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of BridgeBio Pharma by 280.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 465,401 shares of the company’s stock valued at $20,096,000 after purchasing an additional 343,158 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the subject of several recent research reports. Wells Fargo & Company increased their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Truist Financial lifted their target price on shares of BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Leerink Partners raised their price objective on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Finally, Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the completion of the transaction, the chief executive officer directly owned 695,686 shares of the company’s stock, valued at approximately $50,047,650.84. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the sale, the chief accounting officer directly owned 130,297 shares in the company, valued at $9,675,855.22. This trade represents a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 164,174 shares of company stock valued at $12,036,335. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Up 3.1%

Shares of NASDAQ BBIO opened at $66.54 on Thursday. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of -17.60 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. The firm has a 50-day moving average price of $74.08 and a 200 day moving average price of $65.10.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share 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 the consensus estimate of $150.71 million. During the same quarter in the prior year, the firm earned ($1.40) EPS. The company’s revenue for the quarter was up 2521.2% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS 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.