Rockefeller Capital Management L.P. Acquires 25,169 Shares of BridgeBio Pharma, Inc. $BBIO

Rockefeller Capital Management L.P. raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 189.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,429 shares of the company’s stock after buying an additional 25,169 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in BridgeBio Pharma were worth $2,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma during the third quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma in the first quarter valued at $35,000. Huntington National Bank raised its holdings in shares of BridgeBio Pharma by 111.7% during 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 during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Truist Financial increased their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Canaccord Genuity Group began coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Finally, Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Twenty-one analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.90.

Insider Transactions at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the transaction, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 37,167 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $2,601,690.00. Following the sale, the director owned 8,383 shares of the company’s stock, valued at $586,810. This trade represents a 81.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 306,361 shares of company stock valued at $21,020,442. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $70.24 on Monday. BridgeBio Pharma, Inc. has a one year low of $41.80 and a one year high of $84.94. The company has a market cap of $13.76 billion, a PE ratio of -18.78 and a beta of 0.98. The firm has a 50-day moving average of $68.88 and a 200-day moving average of $71.81.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly 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 company had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. The business’s quarterly 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. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

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.