BridgeBio Pharma, Inc. $BBIO Shares Bought by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 331,302 shares of the company’s stock after buying an additional 13,015 shares during the quarter. Artisan Partners Limited Partnership owned 0.17% of BridgeBio Pharma worth $17,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $643,000. WINTON GROUP Ltd purchased a new position in BridgeBio Pharma during the second quarter worth $3,856,000. Principal Financial Group Inc. increased its position in BridgeBio Pharma by 23.0% during the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after buying an additional 236,885 shares in the last quarter. L & S Advisors Inc acquired a new position in shares of BridgeBio Pharma in the third quarter worth $877,000. Finally, Federated Hermes Inc. lifted its position in shares of BridgeBio Pharma by 53.0% in the third quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock valued at $22,059,000 after acquiring an additional 147,108 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,600 shares of BridgeBio Pharma stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $74.72, for a total value of $1,016,192.00. Following the completion of the transaction, the chief financial officer directly owned 336,585 shares in the company, valued at approximately $25,149,631.20. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at approximately $874,505.94. The trade was a 46.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 204,174 shares of company stock valued at $15,012,335. Insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Down 1.7%

BridgeBio Pharma stock opened at $66.48 on Friday. The firm has a fifty day moving average of $74.76 and a 200-day moving average of $64.80. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $84.94. The firm has a market capitalization of $12.89 billion, a P/E ratio of -17.59 and a beta of 1.13.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. During the same quarter in the prior year, the firm posted ($1.40) EPS. The business’s revenue for the quarter was up 2521.2% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BBIO. Sanford C. Bernstein initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. Morgan Stanley raised their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial lifted their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer reduced their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday. Twenty-two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $82.50.

About BridgeBio Pharma

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.