Corient Private Wealth LLC Invests $643,000 in BridgeBio Pharma, Inc. $BBIO

Corient Private Wealth LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,894 shares of the company’s stock, valued at approximately $643,000.

Several other institutional investors have also added to or reduced their stakes in the company. Ieq Capital LLC bought a new position in BridgeBio Pharma during the 1st quarter worth $931,000. Panagora Asset Management Inc. increased its position in BridgeBio Pharma by 21.1% during the first quarter. Panagora Asset Management Inc. now owns 616,252 shares of the company’s stock worth $21,304,000 after acquiring an additional 107,445 shares during the period. Baird Financial Group Inc. bought a new position in BridgeBio Pharma during the first quarter worth about $1,429,000. Quarry LP acquired a new stake in BridgeBio Pharma in the 1st quarter worth about $398,000. Finally, HBK Investments L P bought a new stake in BridgeBio Pharma in the 1st quarter valued at about $519,000. 99.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction, the director owned 7,465 shares of the company’s stock, valued at approximately $493,212.55. This represents a 77.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald J. Daniels sold 61,031 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $63.72, for a total transaction of $3,888,895.32. Following the sale, the director directly owned 16,991 shares in the company, valued at $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 587,215 shares of company stock valued at $38,801,501. Corporate insiders own 18.20% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $75.80 on Friday. The firm has a 50 day simple moving average of $68.21 and a two-hundred day simple moving average of $55.42. BridgeBio Pharma, Inc. has a one year low of $27.23 and a one year high of $78.44. The company has a market cap of $14.61 billion, a P/E ratio of -18.13 and a beta of 1.26.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BBIO shares. Raymond James Financial reaffirmed an “outperform” rating and set a $71.00 target price (up from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Truist Financial reissued a “buy” rating and set a $80.00 price target (up previously from $66.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. UBS Group raised their price objective on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Sanford C. Bernstein began coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price for the company. Finally, Wells Fargo & Company increased their target price on BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Twenty-one research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.