BridgeBio Pharma, Inc. $BBIO Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 49.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,164,928 shares of the company’s stock after purchasing an additional 720,905 shares during the period. Franklin Resources Inc.’s holdings in BridgeBio Pharma were worth $165,595,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC grew its stake in shares of BridgeBio Pharma by 16.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,677 shares of the company’s stock worth $1,123,000 after purchasing an additional 2,025 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $50,000. Clearbridge Investments LLC grew its stake in shares of BridgeBio Pharma by 1.1% in the 4th quarter. Clearbridge Investments LLC now owns 498,329 shares of the company’s stock worth $38,117,000 after purchasing an additional 5,266 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of BridgeBio Pharma by 1.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 18,766 shares of the company’s stock worth $1,435,000 after purchasing an additional 354 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $67.68 on Wednesday. BridgeBio Pharma, Inc. has a one year low of $38.57 and a one year high of $84.94. The company has a 50-day moving average of $70.55 and a two-hundred day moving average of $72.13. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of -18.10 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the firm posted ($0.88) EPS. BridgeBio Pharma’s revenue for the quarter was up 66.8% on a year-over-year basis. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BBIO shares. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Canaccord Genuity Group started coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective on the stock. William Blair started coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an “outperform” rating on the stock. Finally, Mizuho reaffirmed an “outperform” rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. Twenty-three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $89.59.

Insider Activity at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares in the company, valued at approximately $23,376,345.52. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total transaction of $143,160.00. Following the sale, the chief accounting officer owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. This represents a 1.47% 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 three months, insiders have sold 211,754 shares of company stock valued at $14,664,059. 14.23% of the stock is owned by company insiders.

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.