1,015,980 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Primecap Management Co. CA

Primecap Management Co. CA acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, HoldingsChannel reports. The fund acquired 1,015,980 shares of the company’s stock, valued at approximately $75,670,000.

Other institutional investors also recently bought and sold shares of the company. Silvant Capital Management LLC purchased a new position in BridgeBio Pharma during the 2nd quarter worth $28,000. Allworth Financial LP purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at about $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of BridgeBio Pharma in the third quarter valued at about $34,000. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the first quarter worth about $35,000. Finally, Farther Finance Advisors LLC increased its stake in shares of BridgeBio Pharma by 91.4% during the fourth 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 period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BridgeBio Pharma

In related news, Director Andrea Ellis sold 17,167 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the transaction, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This trade represents a 43.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of BridgeBio Pharma stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $68.57, for a total value of $150,579.72. Following the transaction, the director directly owned 9,259 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 387,343 shares of company stock worth $30,289,400. 14.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BBIO. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Piper Sandler increased their target price on BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Mizuho reduced their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Finally, Morgan Stanley decreased their price target on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.79.

BridgeBio Pharma Stock Down 1.3%

Shares of NASDAQ BBIO opened at $79.37 on Thursday. BridgeBio Pharma, Inc. has a 52 week low of $48.78 and a 52 week high of $93.42. The firm has a 50-day moving average price of $79.62 and a 200 day moving average price of $73.45. The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of -22.23 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter in the prior year, the company posted ($0.95) earnings per share. The company’s quarterly revenue was up 120.4% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.62 EPS for the current fiscal 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.