E Fund Management Co. Ltd. Buys Shares of 6,070 BridgeBio Pharma, Inc. $BBIO

E Fund Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,070 shares of the company’s stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBIO. Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Price T Rowe Associates Inc. MD lifted its stake in BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after purchasing an additional 2,261,181 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in BridgeBio Pharma by 25.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock valued at $841,349,000 after purchasing an additional 2,259,378 shares during the period. Norges Bank bought a new position in BridgeBio Pharma in the 4th quarter valued at $116,802,000. Finally, Wellington Management Group LLP grew its position in shares of BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock valued at $179,654,000 after purchasing an additional 1,329,537 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jennifer E. Cook sold 148,589 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the transaction, the director directly owned 8,383 shares in the company, valued at approximately $742,230.82. This represents a 94.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $80.06, for a total value of $160,120.00. Following the transaction, the chief accounting officer directly owned 127,401 shares in the company, valued at approximately $10,199,724.06. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 387,343 shares of company stock valued at $30,289,400. 14.23% of the stock is owned by insiders.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $82.94 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $46.81 and a fifty-two week high of $93.42. The stock has a market cap of $16.21 billion, a P/E ratio of -23.23 and a beta of 0.96. The firm’s fifty day moving average price is $78.55 and its 200-day moving average price is $73.26.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. The business’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.95) EPS. On average, analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBIO. Citigroup upped their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Truist Financial boosted their target price on BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Mizuho reduced their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. Morgan Stanley decreased their target price 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. Finally, JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

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.