Platinum Investment Management Ltd. Has $3.65 Million Holdings in BridgeBio Pharma, Inc. $BBIO

Platinum Investment Management Ltd. lessened its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 23.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,756 shares of the company’s stock after selling 14,488 shares during the period. Platinum Investment Management Ltd.’s holdings in BridgeBio Pharma were worth $3,653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of BridgeBio Pharma by 861.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after acquiring an additional 508 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $44,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the completion of the sale, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 171,754 shares of company stock worth $11,914,859. Corporate insiders own 14.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BBIO shares. Mizuho restated an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Citigroup started coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Truist Financial upped their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Oppenheimer lowered their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Twenty-three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.59.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $66.80 on Friday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of -17.86 and a beta of 0.97. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The firm has a 50-day moving average price of $70.22 and a two-hundred day moving average price of $72.11.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. The business’s revenue was up 66.8% on a year-over-year basis. During the same period last year, the business posted ($0.88) EPS. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current 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.