Panagora Asset Management Inc. Boosts Position in BridgeBio Pharma, Inc. $BBIO

Panagora Asset Management Inc. raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 738,843 shares of the company’s stock after acquiring an additional 9,319 shares during the quarter. Panagora Asset Management Inc.’s holdings in BridgeBio Pharma were worth $56,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after purchasing an additional 347,074 shares during the period. Farallon Capital Management LLC grew its position in BridgeBio Pharma by 3.7% during the third quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock valued at $425,492,000 after buying an additional 292,000 shares during the period. Aisling Capital Management LP grew its position in BridgeBio Pharma by 0.4% during the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after buying an additional 21,486 shares during the period. Geode Capital Management LLC increased its holdings in BridgeBio Pharma by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after buying an additional 502,582 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in BridgeBio Pharma by 40.3% during the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after buying an additional 1,127,592 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Oppenheimer lowered their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Citigroup began coverage on BridgeBio Pharma in a report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target for the company. Finally, Leerink Partners restated an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $89.59.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $66.80 on Monday. The stock has a market capitalization of $13.08 billion, a PE ratio of -17.86 and a beta of 0.98. The company’s fifty day moving average is $70.22 and its 200 day moving average is $72.12. BridgeBio Pharma, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released 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 analyst estimates of $178.07 million. During the same period in the prior year, the business earned ($0.88) EPS. The firm’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 -2.32 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the transaction, the chief financial officer owned 359,194 shares of the company’s stock, valued at approximately $23,376,345.52. This 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. Insiders have sold a total of 171,754 shares of company stock valued at $11,914,859 over the last quarter. 14.23% of the stock is owned by corporate insiders.

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.