Massachusetts Financial Services Co. MA Increases Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Massachusetts Financial Services Co. MA boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 57.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 598,263 shares of the company’s stock after purchasing an additional 219,257 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.32% of BridgeBio Pharma worth $15,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bfsg LLC lifted its holdings in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the period. YHB Investment Advisors Inc. acquired a new position in BridgeBio Pharma during the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in BridgeBio Pharma during the second quarter worth approximately $48,000. Quarry LP acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at $50,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma during the 1st quarter valued at $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold 5,831,544 shares of company stock valued at $150,128,821 over the last ninety days. Corporate insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. 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 research report on Tuesday, May 28th. Evercore ISI reduced their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $26.74 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The stock’s 50-day simple moving average is $26.50 and its 200-day simple moving average is $27.19. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -8.30 and a beta of 1.07.

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

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.