Inspire Advisors LLC Buys New Shares in BridgeBio Pharma, Inc. $BBIO

Inspire Advisors LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,542 shares of the company’s stock, valued at approximately $651,000.

A number of other hedge funds also recently made changes to their positions in BBIO. First Horizon Corp acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $36,000. Nisa Investment Advisors LLC boosted its holdings in BridgeBio Pharma by 109.3% in the third quarter. Nisa Investment Advisors LLC now owns 57,437 shares of the company’s stock valued at $2,983,000 after acquiring an additional 30,000 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in BridgeBio Pharma by 6.1% during the third quarter. KLP Kapitalforvaltning AS now owns 29,735 shares of the company’s stock valued at $1,544,000 after acquiring an additional 1,700 shares during the period. Wealth Management Associates Inc. increased its stake in BridgeBio Pharma by 4.7% during the third quarter. Wealth Management Associates Inc. now owns 8,900 shares of the company’s stock worth $462,000 after acquiring an additional 400 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in BridgeBio Pharma by 98.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,500 shares of the company’s stock worth $545,000 after acquiring an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BBIO. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Wells Fargo & Company raised their price target on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. TD Cowen boosted their price objective on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. 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 research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.85.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $76.26 on Tuesday. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of -18.24 and a beta of 1.17. The company has a 50 day moving average of $73.24 and a two-hundred day moving average of $59.35. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $79.88.

BridgeBio Pharma (NASDAQ:BBIO) last posted its 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 for the quarter, compared to analyst estimates of $107.71 million. The company’s quarterly revenue was up 4318.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.86) earnings per share. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Hannah Valantine sold 25,484 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $66.07, for a total value of $1,683,727.88. Following the transaction, the director directly owned 7,465 shares of the company’s stock, valued at $493,212.55. This represents a 77.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald J. Daniels sold 61,031 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $63.72, for a total value of $3,888,895.32. Following the transaction, the director owned 16,991 shares of the company’s stock, valued at approximately $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 587,215 shares of company stock worth $39,569,101 over the last quarter. Company insiders own 18.20% of the company’s stock.

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.