BridgeBio Pharma, Inc. $BBIO Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 62.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,180 shares of the company’s stock after acquiring an additional 55,230 shares during the quarter. TD Asset Management Inc’s holdings in BridgeBio Pharma were worth $11,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in BridgeBio Pharma by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock worth $874,257,000 after acquiring an additional 347,074 shares in the last quarter. Farallon Capital Management LLC raised its stake in BridgeBio Pharma by 3.7% during the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock worth $425,492,000 after acquiring an additional 292,000 shares in the last quarter. Aisling Capital Management LP raised its stake in BridgeBio Pharma by 0.4% during the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock worth $316,294,000 after acquiring an additional 21,486 shares in the last quarter. Geode Capital Management LLC raised its stake in BridgeBio Pharma by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock worth $344,689,000 after acquiring an additional 502,582 shares in the last quarter. Finally, Invesco Ltd. raised its stake in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after acquiring an additional 1,127,592 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Leerink Partners reiterated an “outperform” rating and set a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Citigroup assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target on the stock. William Blair assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Finally, Oppenheimer cut their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.59.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $67.37 on Tuesday. The firm has a market cap of $13.20 billion, a PE ratio of -18.01 and a beta of 0.98. BridgeBio Pharma, Inc. has a one year low of $38.57 and a one year high of $84.94. The firm’s fifty day moving average is $70.59 and its two-hundred day moving average is $72.12.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) EPS. Research analysts predict that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of BridgeBio Pharma stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the transaction, the chief financial officer directly owned 359,194 shares in the company, valued at approximately $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.62, for a total transaction of $2,984,800.00. Following the completion of the transaction, the chief executive officer owned 615,686 shares in the company, valued at approximately $45,942,489.32. This represents a 6.10% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 211,754 shares of company stock valued at $14,664,059. Company insiders own 14.23% of the company’s stock.

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.