American Century Companies Inc. Buys 182,623 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

American Century Companies Inc. lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,096,734 shares of the company’s stock after buying an additional 182,623 shares during the period. American Century Companies Inc. owned about 0.59% of BridgeBio Pharma worth $27,780,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BBIO. Headlands Technologies LLC bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $48,000. Daiwa Securities Group Inc. boosted its stake in BridgeBio Pharma by 5,393.7% during the second quarter. Daiwa Securities Group Inc. now owns 35,709 shares of the company’s stock worth $904,000 after buying an additional 35,059 shares in the last quarter. Quest Partners LLC bought a new stake in BridgeBio Pharma in the 2nd quarter valued at $337,000. Arizona State Retirement System raised its stake in shares of BridgeBio Pharma by 7.6% in the 2nd quarter. Arizona State Retirement System now owns 30,857 shares of the company’s stock valued at $782,000 after buying an additional 2,171 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of BridgeBio Pharma by 9.9% during the 2nd quarter. Victory Capital Management Inc. now owns 382,717 shares of the company’s stock worth $9,694,000 after acquiring an additional 34,360 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,831,544 shares of company stock worth $150,128,821. Insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Down 2.9 %

Shares of NASDAQ:BBIO opened at $25.96 on Thursday. The firm has a market cap of $4.86 billion, a P/E ratio of -8.06 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The company’s 50-day moving average price is $26.51 and its two-hundred day moving average price is $27.23.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same period last year, the company earned ($0.98) earnings per share. BridgeBio Pharma’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research note on Monday. Evercore ISI dropped their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. UBS Group decreased their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, May 28th. Piper Sandler initiated coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Finally, Bank of America restated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

About BridgeBio Pharma

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.