10,423 Shares in BridgeBio Pharma, Inc. $BBIO Acquired by DNB Asset Management AS

DNB Asset Management AS bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, HoldingsChannel reports. The institutional investor bought 10,423 shares of the company’s stock, valued at approximately $541,000.

Several other hedge funds also recently bought and sold shares of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at $25,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the 1st quarter worth about $35,000. First Horizon Corp acquired a new position in BridgeBio Pharma in the 3rd quarter valued at about $36,000. AlphaQuest LLC lifted its holdings in BridgeBio Pharma by 254.3% in the 3rd quarter. AlphaQuest LLC now owns 815 shares of the company’s stock valued at $42,000 after purchasing an additional 585 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 3.1%

Shares of BBIO stock opened at $66.54 on Thursday. The company has a market cap of $12.90 billion, a PE ratio of -17.60 and a beta of 1.13. The company’s fifty day simple moving average is $74.08 and its 200-day simple moving average is $65.10. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share (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 analysts’ expectations of $150.71 million. During the same period in the prior year, the company posted ($1.40) EPS. The company’s quarterly revenue was up 2521.2% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Barclays began coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 28th. They set an “overweight” rating on the stock. Truist Financial increased their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Finally, Wells Fargo & Company increased their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Twenty-two investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.50.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the company’s 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 in the company, valued at $874,505.94. This represents a 46.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 28,053 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the completion of the sale, the chief executive officer directly owned 234,451 shares of the company’s stock, valued at $16,737,456.89. This trade represents a 10.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 164,174 shares of company stock worth $12,036,335 in the last ninety days. 18.20% of the stock is owned by corporate insiders.

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.