American Century Companies Inc. Sells 13,548 Shares of BridgeBio Pharma, Inc. $BBIO

American Century Companies Inc. lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,076,586 shares of the company’s stock after selling 13,548 shares during the quarter. American Century Companies Inc.’s holdings in BridgeBio Pharma were worth $55,918,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after buying an additional 347,074 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 in the last quarter. Invesco Ltd. raised its stake in shares of BridgeBio Pharma by 27.0% in the second quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock valued at $120,950,000 after acquiring an additional 594,902 shares during the last quarter. Norges Bank bought a new position in shares of BridgeBio Pharma in the second quarter valued at approximately $84,488,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of BridgeBio Pharma by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after acquiring an additional 236,885 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $66.17 on Friday. The stock has a market capitalization of $12.83 billion, a P/E ratio of -17.51 and a beta of 1.13. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94. The stock has a fifty day moving average of $73.85 and a 200-day moving average of $65.11.

BridgeBio Pharma (NASDAQ:BBIO) last issued 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 firm had revenue of $154.18 million during the quarter, compared to analyst estimates of $150.71 million. The firm’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.40) earnings per share. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Truist Financial boosted their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Oppenheimer lowered their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Sanford C. Bernstein started coverage on BridgeBio Pharma in a report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price target for the company. Finally, Leerink Partners upped their price target on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $82.50.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total transaction of $2,877,600.00. Following the completion of the sale, the chief executive officer directly owned 695,686 shares of the company’s stock, valued at $50,047,650.84. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Trimarchi sold 13,600 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the completion of the transaction, the chief financial officer owned 336,585 shares in the company, valued at $25,149,631.20. This represents a 3.88% 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 164,174 shares of company stock valued at $12,036,335. 18.20% of the stock is currently owned by company insiders.

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.