Quantinno Capital Management LP Boosts Holdings in BridgeBio Pharma, Inc. $BBIO

Quantinno Capital Management LP boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 199.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 32,240 shares of the company’s stock after buying an additional 21,464 shares during the quarter. Quantinno Capital Management LP’s holdings in BridgeBio Pharma were worth $2,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ABS Direct Equity Fund LLC bought a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $86,000. Granahan Investment Management LLC grew its holdings in BridgeBio Pharma by 1.1% during the first quarter. Granahan Investment Management LLC now owns 102,911 shares of the company’s stock valued at $7,642,000 after purchasing an additional 1,106 shares during the period. Renaissance Technologies LLC bought a new stake in BridgeBio Pharma during the first quarter valued at about $27,162,000. Atika Capital Management LLC purchased a new stake in BridgeBio Pharma in the first quarter worth about $2,614,000. Finally, Inceptionr LLC raised its stake in shares of BridgeBio Pharma by 46.9% in the first quarter. Inceptionr LLC now owns 8,804 shares of the company’s stock worth $654,000 after buying an additional 2,809 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the sale, the director directly owned 8,383 shares of the company’s stock, valued at $742,230.82. This represents a 94.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the sale, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. This trade represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 392,117 shares of company stock worth $29,934,700. Insiders own 14.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Canaccord Genuity Group started coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective for the company. Citigroup upped their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Nineteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $97.33.

BridgeBio Pharma Stock Up 0.2%

BBIO opened at $84.67 on Tuesday. The firm has a 50-day simple moving average of $76.07 and a two-hundred day simple moving average of $73.03. BridgeBio Pharma, Inc. has a 52 week low of $46.28 and a 52 week high of $93.42. The company has a market capitalization of $16.55 billion, a PE ratio of -22.64 and a beta of 0.96.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. During the same quarter in the prior year, the company earned ($0.95) EPS. The company’s quarterly revenue was up 120.4% compared to the same quarter last year. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.31 earnings per share for the current year.

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.