BridgeBio Pharma, Inc. $BBIO Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,381,184 shares of the company’s stock after buying an additional 110,894 shares during the quarter. Pictet Asset Management Holding SA’s holdings in BridgeBio Pharma were worth $101,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global Retirement Partners LLC lifted its position in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 245 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at approximately $41,000. Cary Street Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after purchasing an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in BridgeBio Pharma in the fourth quarter worth $44,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the sale, the director owned 11,589 shares in the company, valued at approximately $778,201.35. The trade was a 46.32% decrease in their position. The transaction was disclosed in a 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, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the completion of the transaction, the chief executive officer owned 575,686 shares of the company’s stock, valued at approximately $39,089,079.40. The trade was a 6.50% 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 306,361 shares of company stock worth $21,020,442. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $70.24 on Monday. The company has a 50-day moving average of $68.88 and a 200-day moving average of $71.81. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of -18.78 and a beta of 0.98. BridgeBio Pharma, Inc. has a twelve month low of $41.80 and a twelve month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. BridgeBio Pharma’s revenue was up 66.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.88) earnings per share. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 target price on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Finally, Mizuho decreased their price target on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Twenty-one research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

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.