Amalgamated Bank Boosts Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Amalgamated Bank lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 24.7% in the second quarter, Holdings Channel reports. The firm owned 4,863 shares of the company’s stock after buying an additional 962 shares during the period. Amalgamated Bank’s holdings in BridgeBio Pharma were worth $123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after acquiring an additional 421,832 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after buying an additional 1,111,975 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after buying an additional 75,564 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in BridgeBio Pharma by 4.8% during the second quarter. Principal Financial Group Inc. now owns 1,125,145 shares of the company’s stock worth $28,500,000 after acquiring an additional 51,958 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 2.6 %

NASDAQ:BBIO opened at $24.80 on Wednesday. The firm has a market cap of $4.64 billion, a PE ratio of -7.70 and a beta of 1.07. The stock has a fifty day moving average price of $26.16 and a 200 day moving average price of $26.98. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period last year, the business earned ($0.98) EPS. The firm’s revenue was up 32.1% compared to the same quarter last year. Equities analysts forecast that BridgeBio Pharma, Inc. will post -2.54 EPS for the current year.

Insider Activity

In related news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.