BridgeBio Pharma, Inc. $BBIO is Eagle Health Investments LP’s 10th Largest Position

Eagle Health Investments LP increased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 267,031 shares of the company’s stock after purchasing an additional 7,731 shares during the period. BridgeBio Pharma accounts for 3.5% of Eagle Health Investments LP’s holdings, making the stock its 10th biggest holding. Eagle Health Investments LP’s holdings in BridgeBio Pharma were worth $19,830,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BBIO. Quantinno Capital Management LP raised its stake in BridgeBio Pharma by 199.2% in the first quarter. Quantinno Capital Management LP now owns 32,240 shares of the company’s stock worth $2,394,000 after buying an additional 21,464 shares in the last quarter. ABS Direct Equity Fund LLC bought a new stake in BridgeBio Pharma during the 1st quarter valued at $86,000. Granahan Investment Management LLC boosted its position in BridgeBio Pharma by 1.1% during the 1st quarter. Granahan Investment Management LLC now owns 102,911 shares of the company’s stock valued at $7,642,000 after acquiring an additional 1,106 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of BridgeBio Pharma in the 1st quarter valued at $27,162,000. Finally, Atika Capital Management LLC bought a new position in shares of BridgeBio Pharma in the 1st quarter worth $2,614,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBIO. Citigroup upped their price objective on BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Truist Financial boosted 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. Morgan Stanley increased their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, Mizuho lowered their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $95.21.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Hannah Valantine sold 2,196 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the completion of the sale, the director owned 9,259 shares of the company’s stock, valued at approximately $634,889.63. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the sale, the director owned 8,383 shares in the company, valued at $742,230.82. The trade was a 94.66% 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. Insiders sold a total of 432,117 shares of company stock valued at $32,633,740 in the last 90 days. 14.23% of the stock is owned by insiders.

BridgeBio Pharma Trading Up 0.1%

Shares of BBIO opened at $84.12 on Tuesday. The firm has a market cap of $16.48 billion, a PE ratio of -22.49 and a beta of 0.95. BridgeBio Pharma, Inc. has a 12 month low of $42.09 and a 12 month high of $93.42. The stock has a fifty day moving average price of $73.07 and a 200-day moving average price of $72.59.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter last year, the business posted ($0.88) EPS. BridgeBio Pharma’s revenue was up 66.8% compared to the same quarter last year. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 EPS 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.