BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,496 shares of the company’s stock after purchasing an additional 1,785 shares during the period. E Fund Management Co. Ltd.’s holdings in BridgeBio Pharma were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBIO. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after purchasing an additional 2,169,143 shares during the period. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after acquiring an additional 1,524,313 shares during the period. Norges Bank acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $46,843,000. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after acquiring an additional 1,111,975 shares during the period. Finally, UBS Group AG grew its holdings in shares of BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after acquiring an additional 832,940 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 2.9 %

Shares of BridgeBio Pharma stock opened at $25.96 on Thursday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The firm has a market cap of $4.86 billion, a PE ratio of -8.06 and a beta of 1.07. The business’s fifty day moving average is $26.51 and its two-hundred day moving average is $27.23.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BBIO. Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Piper Sandler began coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday. Bank of America reiterated a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lowered their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insiders Place Their Bets

In related 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 value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 in the last quarter. 24.66% of the stock is currently 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.