Allspring Global Investments Holdings LLC Acquires 987,273 Shares of BridgeBio Pharma, Inc. $BBIO

Allspring Global Investments Holdings LLC boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 14,211.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 994,220 shares of the company’s stock after acquiring an additional 987,273 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BridgeBio Pharma were worth $77,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $34,000. First Horizon Corp bought a new position in shares of BridgeBio Pharma in the third quarter worth $36,000. Huntington National Bank raised its stake in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in BridgeBio Pharma in the third quarter valued at about $42,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $74.26 on Wednesday. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of -19.65 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 firm has a 50 day moving average price of $71.65 and a two-hundred day moving average price of $67.73.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business posted ($1.40) EPS. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, Director Andrea Ellis sold 64,921 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the sale, the director directly owned 18,589 shares in the company, valued at $1,205,868.43. This trade represents a 77.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders have sold 237,084 shares of company stock worth $16,608,419 over the last ninety days. 18.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BBIO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. William Blair started coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating for the company. Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the company an “outperform” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Finally, Truist Financial increased their price target on BridgeBio Pharma from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $86.75.

BridgeBio Pharma 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.