Okabena Investment Services Inc. Invests $816,000 in BridgeBio Pharma, Inc. $BBIO

Okabena Investment Services Inc. acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 3rd quarter, Holdings Channel reports. The fund acquired 15,701 shares of the company’s stock, valued at approximately $816,000.

A number of other hedge funds have also recently bought and sold shares of BBIO. Corient Private Wealth LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $643,000. WINTON GROUP Ltd acquired a new stake in shares of BridgeBio Pharma in the second quarter worth approximately $3,856,000. Principal Financial Group Inc. grew its holdings in BridgeBio Pharma by 23.0% in the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after purchasing an additional 236,885 shares during the period. L & S Advisors Inc acquired a new position in BridgeBio Pharma during the third quarter worth approximately $877,000. Finally, Federated Hermes Inc. raised its stake in BridgeBio Pharma by 53.0% during the third quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock worth $22,059,000 after purchasing an additional 147,108 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer lowered their price objective 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. HC Wainwright raised their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Morgan Stanley raised their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Sanford C. Bernstein began coverage on shares of BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price objective for the company. Twenty-two investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

BridgeBio Pharma Stock Down 1.7%

BBIO opened at $66.48 on Friday. The firm’s 50 day moving average is $74.76 and its 200-day moving average is $64.80. The firm has a market capitalization of $12.89 billion, a P/E ratio of -17.59 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 quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same quarter in the prior year, the company earned ($1.40) EPS. BridgeBio Pharma’s quarterly revenue was up 2521.2% compared to the same quarter last year. Equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Maricel Apuli sold 510 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $74.31, for a total transaction of $37,898.10. Following the completion of the transaction, the chief accounting officer directly owned 123,945 shares in the company, valued at approximately $9,210,352.95. This represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 28,053 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the transaction, the chief executive officer owned 234,451 shares in the company, valued at $16,737,456.89. This trade represents a 10.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 204,174 shares of company stock worth $15,012,335 in the last quarter. Company insiders own 18.20% of the company’s stock.

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.