277,587 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Federated Hermes Inc.

Federated Hermes Inc. purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 277,587 shares of the company’s stock, valued at approximately $11,986,000.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of BridgeBio Pharma by 5.1% during the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after buying an additional 178,686 shares during the period. Invesco Ltd. lifted its position in BridgeBio Pharma by 27.0% during the 2nd quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock worth $120,950,000 after buying an additional 594,902 shares in the last quarter. Cormorant Asset Management LP boosted its stake in shares of BridgeBio Pharma by 25.0% during the 1st quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company’s stock worth $69,140,000 after buying an additional 400,000 shares during the last quarter. Norges Bank bought a new position in shares of BridgeBio Pharma in the 2nd quarter valued at about $84,488,000. Finally, Driehaus Capital Management LLC bought a new position in shares of BridgeBio Pharma in the 1st quarter valued at about $51,874,000. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $72.70 on Thursday. The company has a market cap of $14.01 billion, a P/E ratio of -17.39 and a beta of 1.26. The firm’s fifty day moving average price is $63.23 and its two-hundred day moving average price is $52.10. BridgeBio Pharma, Inc. has a one year low of $25.34 and a one year high of $75.10.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The firm had revenue of $120.70 million for the quarter, compared to the consensus estimate of $107.71 million. The business’s revenue was up 4318.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.86) EPS. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity

In other news, Director Andrew Lo sold 55,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the transaction, the director owned 50,583 shares in the company, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Trimarchi sold 16,934 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.46, for a total value of $1,125,433.64. Following the sale, the chief financial officer directly owned 382,830 shares of the company’s stock, valued at approximately $25,442,881.80. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 557,204 shares of company stock valued at $36,561,480. Company insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBIO. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a report on Thursday. They set an “outperform” rating on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Raymond James Financial reissued an “outperform” rating and issued a $71.00 price objective (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Twenty-one investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $74.37.

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.