BridgeBio Pharma, Inc. (NASDAQ:BBIO) Position Raised by Xponance Inc.

Xponance Inc. boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,871 shares of the company’s stock after purchasing an additional 1,803 shares during the period. Xponance Inc.’s holdings in BridgeBio Pharma were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBIO. Profund Advisors LLC raised its holdings in shares of BridgeBio Pharma by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares in the last quarter. American International Group Inc. grew its position in BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after buying an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares in the last quarter. Bfsg LLC lifted its position in shares of BridgeBio Pharma by 175.6% during the 2nd 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 last quarter. Finally, Amalgamated Bank lifted its position in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after acquiring an additional 962 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Up 1.1 %

Shares of BBIO opened at $25.08 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -7.79 and a beta of 1.08. The company’s fifty day moving average is $26.14 and its 200-day moving average is $26.97. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the company earned ($0.98) earnings per share. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,155 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 $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma 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 $676,234.41. Following the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma 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 sale, the chief financial officer now owns 85,192 shares in the company, valued at approximately $2,103,390.48. 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 three months. Company insiders own 24.66% of the company’s stock.

Analysts Set New Price Targets

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

BridgeBio Pharma Profile

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.