Platinum Investment Management Ltd. Has $3.65 Million Holdings in BridgeBio Pharma, Inc. $BBIO

Platinum Investment Management Ltd. lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,756 shares of the company’s stock after selling 14,488 shares during the quarter. Platinum Investment Management Ltd.’s holdings in BridgeBio Pharma were worth $3,653,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BBIO. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma during the first quarter valued at $35,000. First Trust Advisors LP boosted its position in BridgeBio Pharma by 200.4% during the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after acquiring an additional 175,918 shares during the last quarter. Baird Financial Group Inc. boosted its position in BridgeBio Pharma by 1.8% during the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after acquiring an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in BridgeBio Pharma during the second quarter valued at $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BridgeBio Pharma by 2.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after acquiring an additional 2,206 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director owned 11,589 shares in the company, valued at approximately $778,201.35. This represents a 46.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total transaction of $143,160.00. Following the transaction, the chief accounting officer owned 134,115 shares in the company, valued at $9,599,951.70. This represents a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 171,754 shares of company stock worth $11,914,859 over the last three months. 14.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BBIO. Wells Fargo & Company upped their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price target on shares of BridgeBio Pharma in a research report on Thursday, March 12th. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Citigroup began coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price target on the stock. Finally, Oppenheimer cut their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Twenty-three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.59.

BridgeBio Pharma Trading Down 1.1%

Shares of NASDAQ BBIO opened at $66.80 on Friday. The firm’s 50-day moving average price is $70.22 and its 200-day moving average price is $72.11. BridgeBio Pharma, Inc. has a 1-year low of $38.57 and a 1-year high of $84.94. The firm has a market capitalization of $13.08 billion, a P/E ratio of -17.86 and a beta of 0.97.

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

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.