Creative Planning Buys New Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Creative Planning bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 31,264 shares of the company’s stock, valued at approximately $772,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after purchasing an additional 217,000 shares during the last quarter. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after purchasing an additional 2,169,143 shares during the last quarter. Capital Research Global Investors grew its position in BridgeBio Pharma by 101.1% during the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after purchasing an additional 1,111,975 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after purchasing an additional 506,845 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Up 8.8 %

Shares of NASDAQ BBIO opened at $25.48 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32. The firm has a 50-day moving average price of $26.00 and a 200 day moving average price of $26.40. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -9.69 and a beta of 1.09.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.96 million. During the same quarter last year, the business earned ($0.98) EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BBIO. Leerink Partners lowered their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Bank of America reissued a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, Scotiabank began coverage on shares of BridgeBio Pharma in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $44.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated 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 owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 over the last 90 days. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma 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.