EFG International AG Makes New Investment in BridgeBio Pharma, Inc. $BBIO

EFG International AG purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 82,172 shares of the company’s stock, valued at approximately $6,117,000.

A number of other large investors have also made changes to their positions in BBIO. Silvant Capital Management LLC acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at about $28,000. Allworth Financial LP purchased a new stake in BridgeBio Pharma during the second quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new position in BridgeBio Pharma during the third quarter worth about $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the first quarter worth about $35,000. Finally, Farther Finance Advisors LLC increased its holdings in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 0.8%

BBIO stock opened at $80.40 on Wednesday. BridgeBio Pharma, Inc. has a 52-week low of $47.26 and a 52-week high of $93.42. The stock’s fifty day simple moving average is $79.38 and its 200-day simple moving average is $73.34. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of -22.52 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analysts’ expectations of $220.91 million. During the same period in the prior year, the firm earned ($0.95) EPS. The company’s revenue was up 120.4% on a year-over-year basis. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Piper Sandler upped their price target on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Truist Financial raised their price objective on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Mizuho decreased their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.79.

Insider Transactions at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the transaction, the director directly owned 22,579 shares in the company, valued at $1,896,636. This represents a 43.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total transaction of $150,579.72. Following the completion of the sale, the director directly owned 9,259 shares in the company, valued at $634,889.63. This represents a 19.17% 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. Insiders sold 387,343 shares of company stock worth $30,289,400 in the last quarter. 14.23% of the stock is currently owned by corporate insiders.

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.