Rhumbline Advisers Buys 36,199 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Rhumbline Advisers grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 19.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,403 shares of the company’s stock after acquiring an additional 36,199 shares during the quarter. Rhumbline Advisers owned 0.12% of BridgeBio Pharma worth $5,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BBIO. American International Group Inc. increased its stake in BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after purchasing an additional 565 shares in the last quarter. Parkman Healthcare Partners LLC increased its stake in BridgeBio Pharma by 0.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after purchasing an additional 734 shares in the last quarter. Bfsg LLC increased its stake in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares in the last quarter. Assetmark Inc. increased its stake in BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $34,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Trading Down 2.9 %

BBIO opened at $26.18 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The stock’s fifty day simple moving average is $26.50 and its 200 day simple moving average is $27.42. The stock has a market cap of $4.90 billion, a PE ratio of -8.13 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same quarter last year, the company posted ($0.98) EPS. The firm’s revenue was up 32.1% on a year-over-year basis. Equities analysts forecast that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on 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.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, September 3rd. Evercore ISI reduced their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Piper Sandler initiated coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. UBS Group reduced their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Finally, Bank of America reaffirmed a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.