Rhenman & Partners Asset Management AB Purchases New Holdings in BridgeBio Pharma, Inc. $BBIO

Rhenman & Partners Asset Management AB purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 81,600 shares of the company’s stock, valued at approximately $6,242,000.

Several other hedge funds also recently added to or reduced their stakes in the company. L & S Advisors Inc purchased a new stake in BridgeBio Pharma in the 3rd quarter valued at about $877,000. TD Asset Management Inc purchased a new stake in BridgeBio Pharma in the 3rd quarter valued at about $4,620,000. Central Pacific Bank Trust Division purchased a new stake in BridgeBio Pharma in the 4th quarter valued at about $789,000. Allspring Global Investments Holdings LLC boosted its position in BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after buying an additional 987,273 shares during the period. Finally, HighVista Strategies LLC boosted its position in BridgeBio Pharma by 21.4% in the 3rd quarter. HighVista Strategies LLC now owns 81,959 shares of the company’s stock valued at $4,257,000 after buying an additional 14,460 shares during the period. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $66.80 on Friday. The company has a 50 day moving average price of $70.22 and a 200-day moving average price of $72.11. BridgeBio Pharma, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $84.94. The stock has a market capitalization of $13.08 billion, a PE ratio of -17.86 and a beta of 0.97.

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 firm had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the previous year, the firm earned ($0.88) earnings per share. The business’s revenue for the quarter was up 66.8% on a year-over-year basis. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBIO shares. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. Citigroup started coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price objective for the company. Mizuho reissued an “outperform” rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Finally, Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty-three equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.59.

Insider Buying and Selling at BridgeBio Pharma

In related 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 transaction of $2,698,400.00. Following the completion of the transaction, the chief executive officer owned 535,686 shares in the company, valued at $36,137,377.56. The trade was a 6.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was 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 of the company’s stock, valued at approximately $778,201.35. This trade represents a 46.32% 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 sold a total of 171,754 shares of company stock worth $11,914,859 over the last quarter. 14.23% of the stock is currently owned by company insiders.

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.