American Century Companies Inc. Has $27.78 Million Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

American Century Companies Inc. boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 20.0% in the second quarter, Holdings Channel reports. The firm owned 1,096,734 shares of the company’s stock after purchasing an additional 182,623 shares during the period. American Century Companies Inc.’s holdings in BridgeBio Pharma were worth $27,780,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the 1st quarter valued at $34,000. Bfsg LLC grew its stake in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Quarry LP bought a new stake in shares of BridgeBio Pharma in the fourth quarter worth about $50,000. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma during the second quarter worth about $48,000. Finally, Assetmark Inc. raised its position in shares of BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares during the period. Institutional investors own 99.85% of the company’s stock.

Insider Activity

In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company’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 $676,234.41. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $120,917,867.67. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock valued at $150,128,821 in the last quarter. Company insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BBIO. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Monday. Piper Sandler started coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Finally, UBS Group reduced their price objective 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. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $25.96 on Thursday. The stock has a 50 day moving average price of $26.51 and a 200 day moving average price of $27.23. The stock has a market capitalization of $4.86 billion, a PE ratio of -8.06 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the company posted ($0.98) EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -2.49 EPS for the current year.

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.