Axiom Investors LLC DE Acquires 97,622 Shares of BridgeBio Pharma, Inc. $BBIO

Axiom Investors LLC DE raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 88.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,519 shares of the company’s stock after buying an additional 97,622 shares during the quarter. Axiom Investors LLC DE’s holdings in BridgeBio Pharma were worth $15,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 2.1% in the 3rd 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 during the period. Farallon Capital Management LLC increased its holdings in BridgeBio Pharma by 3.7% in the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock valued at $425,492,000 after buying an additional 292,000 shares during the period. Aisling Capital Management LP increased its holdings in BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after buying an additional 21,486 shares during the period. Geode Capital Management LLC increased its holdings in BridgeBio Pharma by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after buying an additional 502,582 shares during the period. Finally, Invesco Ltd. increased its holdings in BridgeBio Pharma by 40.3% in the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after buying an additional 1,127,592 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BBIO. Wells Fargo & Company boosted their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 target price on shares of BridgeBio Pharma in a report on Thursday, March 12th. Truist Financial upped their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price on the stock. Finally, William Blair began coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Twenty-three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.59.

BridgeBio Pharma Stock Performance

BBIO opened at $67.68 on Wednesday. The firm’s 50-day simple moving average is $70.55 and its 200-day simple moving average is $72.13. BridgeBio Pharma, Inc. has a twelve month low of $38.57 and a twelve month high of $84.94. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of -18.10 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The business’s revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) earnings per share. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director owned 11,589 shares in the company, valued at $778,201.35. This represents a 46.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $71.58, for a total transaction of $143,160.00. Following the transaction, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. This trade represents a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 211,754 shares of company stock worth $14,664,059 in the last 90 days. Corporate insiders own 14.23% of the company’s stock.

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.