EFG Asset Management North America Corp. Purchases New Holdings in BridgeBio Pharma, Inc. $BBIO

EFG Asset Management North America Corp. acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, HoldingsChannel reports. The fund acquired 72,165 shares of the company’s stock, valued at approximately $3,115,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BBIO. GAMMA Investing LLC lifted its position in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma during the 1st quarter valued at about $35,000. LVW Advisors LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $202,000. DAVENPORT & Co LLC purchased a new position in shares of BridgeBio Pharma during the second quarter worth approximately $207,000. Finally, Phoenix Financial Ltd. bought a new stake in shares of BridgeBio Pharma during the second quarter valued at approximately $209,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBIO has been the subject of several research reports. Wall Street Zen upgraded BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Piper Sandler boosted their price target on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Cowen reissued a “positive” rating on shares of BridgeBio Pharma in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $71.00 price target (up from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.58.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the sale, the chief executive officer owned 855,686 shares in the company, valued at approximately $46,874,479.08. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Mccormick sold 198,359 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total transaction of $13,206,742.22. Following the completion of the transaction, the director owned 679,979 shares of the company’s stock, valued at approximately $45,273,001.82. This trade represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 780,746 shares of company stock worth $41,506,451 over the last ninety days. 18.20% of the stock is owned by corporate insiders.

BridgeBio Pharma Trading Down 1.0%

NASDAQ:BBIO opened at $61.37 on Wednesday. The company has a market capitalization of $11.83 billion, a P/E ratio of -14.68 and a beta of 1.39. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $69.48. The firm has a fifty day simple moving average of $54.46 and a 200-day simple moving average of $46.09.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The business had revenue of $108.11 million during the quarter, compared to the consensus estimate of $107.71 million. The business’s revenue for the quarter was up 4318.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.86) earnings per share. Equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.