23,950 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,950 shares of the company’s stock, valued at approximately $1,783,000.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma during the first quarter worth about $35,000. First Trust Advisors LP increased its stake in shares of BridgeBio Pharma by 200.4% in the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after acquiring an additional 175,918 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of BridgeBio Pharma by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after acquiring an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BridgeBio Pharma by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after acquiring an additional 2,206 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $75.41 on Friday. The business has a 50 day simple moving average of $80.65 and a 200 day simple moving average of $73.61. BridgeBio Pharma, Inc. has a 52-week low of $48.78 and a 52-week high of $93.42. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of -21.12 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. The business’s quarterly revenue was up 120.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. On average, analysts predict that BridgeBio Pharma, Inc. will post -2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of BridgeBio Pharma from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Truist Financial increased their target price on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Piper Sandler boosted their price target on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Wednesday. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.53.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Andrea Ellis sold 17,167 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director directly owned 22,579 shares in the company, valued at $1,896,636. This trade represents a 43.19% decrease in their ownership of the stock. The sale 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, CEO Neil Kumar sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total transaction of $840,300.00. Following the completion of the sale, the chief executive officer directly owned 505,686 shares in the company, valued at $42,492,794.58. This represents a 1.94% 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. Insiders sold a total of 347,343 shares of company stock valued at $27,591,000 over the last quarter. 14.23% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Company 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.