Quest Partners LLC Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Quest Partners LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 13,324 shares of the company’s stock, valued at approximately $337,000.

A number of other large investors have also made changes to their positions in BBIO. Bfsg LLC lifted its holdings in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the first quarter valued at approximately $34,000. Quarry LP acquired a new stake in BridgeBio Pharma during the fourth quarter worth approximately $50,000. EntryPoint Capital LLC purchased a new stake in BridgeBio Pharma in the 1st quarter worth approximately $117,000. Finally, Assetmark Inc. raised its holdings in BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after acquiring an additional 935 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group decreased their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, September 3rd. Bank of America restated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday. 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 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Trading Down 2.9 %

NASDAQ:BBIO opened at $26.18 on Friday. The firm’s fifty day simple moving average is $26.50 and its 200 day simple moving average is $27.47. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -8.13 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, analysts predict that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated 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 directly owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The disclosure for this sale can be found here. 24.66% of the stock is owned by company insiders.

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.