138,835 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Harvey Capital Management Inc.

Harvey Capital Management Inc. purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 138,835 shares of the company’s stock, valued at approximately $10,340,000. BridgeBio Pharma accounts for about 2.1% of Harvey Capital Management Inc.’s portfolio, making the stock its 10th biggest holding.

Several other large investors have also added to or reduced their stakes in BBIO. Silvant Capital Management LLC acquired a new position in shares of BridgeBio Pharma in the second quarter valued at about $28,000. Allworth Financial LP acquired a new stake in shares of BridgeBio Pharma during the second quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma during the third quarter worth about $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the first quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC boosted its position in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity

In related news, Director Hannah Valantine sold 2,808 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the transaction, the director directly owned 11,455 shares in the company, valued at $778,940. The trade was a 19.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Thursday, June 4th. The stock was 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 in the company, valued at $36,137,377.56. This trade represents a 6.95% 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. In the last 90 days, insiders have sold 387,343 shares of company stock valued at $30,289,400. 14.23% of the stock is currently owned by company insiders.

BridgeBio Pharma Trading Down 0.9%

Shares of BBIO stock opened at $78.68 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $48.78 and a twelve month high of $93.42. The stock has a market cap of $15.38 billion, a P/E ratio of -22.04 and a beta of 0.96. The stock has a 50 day moving average of $79.87 and a 200 day moving average of $73.53.

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

Analyst Ratings Changes

A number of research firms have issued reports on BBIO. TD Cowen raised their price target on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. HC Wainwright upped their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 13th. Canaccord Genuity Group increased their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Piper Sandler raised their target price on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $100.79.

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.