Ishara Investments LP Makes New $2.75 Million Investment in BridgeBio Pharma, Inc. $BBIO

Ishara Investments LP purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 36,000 shares of the company’s stock, valued at approximately $2,754,000. BridgeBio Pharma comprises 3.2% of Ishara Investments LP’s investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after purchasing an additional 347,074 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after buying an additional 2,259,378 shares during the period. Farallon Capital Management LLC grew its position in shares of BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock worth $688,292,000 after buying an additional 806,463 shares during the period. Aisling Capital Management LP grew its position in shares of BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after buying an additional 21,486 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after buying an additional 502,582 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Morgan Stanley raised their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Truist Financial raised their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.05.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the transaction, the chief executive officer directly owned 575,686 shares of the company’s stock, valued at $39,089,079.40. The trade was a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 BridgeBio Pharma stock in a transaction on Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the transaction, the chief financial officer directly owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 261,994 shares of company stock worth $17,926,648. Company insiders own 14.23% of the company’s stock.

BridgeBio Pharma Price Performance

BBIO opened at $67.39 on Thursday. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of -18.02 and a beta of 0.97. The firm’s fifty day moving average price is $69.89 and its two-hundred day moving average price is $72.04. BridgeBio Pharma, Inc. has a 1 year low of $39.65 and a 1 year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. BridgeBio Pharma’s revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.88) earnings per share. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

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.