Creative Planning Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Creative Planning bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,264 shares of the company’s stock, valued at approximately $772,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BBIO. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after buying an additional 2,169,143 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after buying an additional 1,111,975 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of BridgeBio Pharma by 44.5% during the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after buying an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after buying an additional 442,248 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s 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 transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s 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 directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,831,544 shares of company stock worth $150,128,821 over the last ninety days. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Stock Up 8.8 %

BBIO opened at $25.48 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32. The company has a 50 day moving average of $26.00 and a two-hundred day moving average of $26.40. The company has a market cap of $4.79 billion, a P/E ratio of -9.69 and a beta of 1.09.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (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 analysts’ expectations of $3.96 million. During the same quarter in the prior year, the firm earned ($0.98) earnings per share. BridgeBio Pharma’s quarterly revenue was up 32.1% compared to the same quarter last year. Research analysts anticipate that BridgeBio Pharma, Inc. will post -2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Leerink Partners lowered their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.