Jupiter Topco LLC Makes New $1.05 Billion Investment in BridgeBio Pharma, Inc. $BBIO

Jupiter Topco LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, Holdings Channel reports. The firm bought 14,110,278 shares of the company’s stock, valued at approximately $1,050,762,000. Jupiter Topco LLC owned 0.07% of BridgeBio Pharma at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silvant Capital Management LLC bought a new position in shares of BridgeBio Pharma in the second quarter worth about $28,000. Allworth Financial LP acquired a new stake in shares of BridgeBio Pharma in the second quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the 1st quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC raised its position in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the topic of a number of recent research reports. Mizuho decreased their price objective on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $110.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, TD Cowen raised their price target on BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Twenty investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

BridgeBio Pharma Stock Down 0.8%

Shares of BridgeBio Pharma stock opened at $80.40 on Wednesday. The business has a fifty day simple moving average of $79.38 and a 200 day simple moving average of $73.34. The stock has a market cap of $15.72 billion, a PE ratio of -22.52 and a beta of 0.96. BridgeBio Pharma, Inc. has a 12 month low of $47.26 and a 12 month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. During the same quarter in the previous year, the business earned ($0.95) EPS. BridgeBio Pharma’s quarterly revenue was up 120.4% compared to the same quarter last year. Analysts expect that BridgeBio Pharma, Inc. will post -2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at approximately $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 22,579 shares in the company, valued at approximately $1,896,636. The trade was a 43.19% 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 have sold 387,343 shares of company stock valued at $30,289,400 in the last ninety days. 14.23% of the stock is owned by company insiders.

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.