BridgeBio Pharma, Inc. $BBIO Stake Boosted by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 423.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,790 shares of the company’s stock after purchasing an additional 16,820 shares during the quarter. Assetmark Inc.’s holdings in BridgeBio Pharma were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Financiere des Professionnels Fonds d investissement inc. acquired a new position in BridgeBio Pharma during the 1st quarter valued at about $587,000. Hillsdale Investment Management Inc. increased its stake in shares of BridgeBio Pharma by 1.9% in the first quarter. Hillsdale Investment Management Inc. now owns 167,742 shares of the company’s stock valued at $12,457,000 after purchasing an additional 3,202 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in shares of BridgeBio Pharma by 1.1% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 320,211 shares of the company’s stock valued at $23,779,000 after buying an additional 3,427 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of BridgeBio Pharma by 1.2% during the first quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock valued at $98,797,000 after buying an additional 16,112 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of BridgeBio Pharma by 7.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,343 shares of the company’s stock worth $2,253,000 after buying an additional 2,132 shares during the period. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

NASDAQ BBIO opened at $84.02 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $42.09 and a 1-year high of $93.42. The company has a market capitalization of $16.46 billion, a PE ratio of -22.47 and a beta of 0.95. The firm’s fifty day simple moving average is $72.69 and its 200-day simple moving average is $72.53.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. The company’s revenue was up 66.8% on a year-over-year basis. As a group, analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on BBIO shares. HC Wainwright raised their target price on BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Citigroup upped their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price for the company. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.21.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at $36,137,377.56. The trade was a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the transaction, the director directly owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 432,117 shares of company stock valued at $32,633,740. 14.23% of the stock is currently owned by company insiders.

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.