American Century Companies Inc. Acquires 62,646 Shares of BridgeBio Pharma, Inc. $BBIO

American Century Companies Inc. grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 6.1% during the second quarter, HoldingsChannel.com reports. The firm owned 1,090,134 shares of the company’s stock after acquiring an additional 62,646 shares during the quarter. American Century Companies Inc.’s holdings in BridgeBio Pharma were worth $47,072,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma in the second quarter worth about $25,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the 1st quarter valued at about $35,000. LVW Advisors LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $202,000. DAVENPORT & Co LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $207,000. Finally, Phoenix Financial Ltd. purchased a new position in shares of BridgeBio Pharma during the second quarter worth approximately $209,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BBIO. Raymond James Financial reiterated an “outperform” rating and issued a $71.00 price target (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. UBS Group lifted their target price on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, September 12th. TD Cowen upped their target price on BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Finally, Truist Financial restated a “buy” rating and issued a $80.00 price objective (up from $66.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

BridgeBio Pharma Stock Down 0.2%

NASDAQ BBIO opened at $71.61 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $25.34 and a 52 week high of $72.28. The company has a 50 day moving average price of $59.75 and a 200 day moving average price of $49.77. The firm has a market cap of $13.80 billion, a PE ratio of -17.13 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The company’s revenue was up 4318.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.86) earnings per share. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the transaction, the chief executive officer directly owned 855,686 shares of the company’s stock, valued at $46,874,479.08. This represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Hannah Valantine sold 25,484 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total value of $1,683,727.88. Following the completion of the sale, the director owned 7,465 shares of the company’s stock, valued at approximately $493,212.55. This trade represents a 77.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 629,204 shares of company stock worth $39,424,400 over the last quarter. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Company 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.