Profund Advisors LLC Increases Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Profund Advisors LLC boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,029 shares of the company’s stock after buying an additional 555 shares during the quarter. Profund Advisors LLC’s holdings in BridgeBio Pharma were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BBIO. Janus Henderson Group PLC grew its holdings in shares of BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after buying an additional 1,524,313 shares during the last quarter. Norges Bank purchased a new position in shares of BridgeBio Pharma in the fourth quarter worth about $46,843,000. Capital Research Global Investors lifted its stake in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the last quarter. Finally, Altitude Crest Partners Inc. purchased a new stake in BridgeBio Pharma during the 4th quarter valued at about $30,462,000. 99.85% of the stock is currently owned by institutional investors.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

BBIO has been the subject of several recent research reports. Evercore ISI lowered their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. UBS Group dropped their target price on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Finally, Bank of America restated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $25.40 on Tuesday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a 50-day moving average of $26.45 and a 200 day moving average of $27.13. The stock has a market cap of $4.75 billion, a P/E ratio of -7.89 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same period in the prior year, the firm earned ($0.98) earnings per share. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts expect that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current fiscal year.

BridgeBio Pharma Company Profile

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.