7,900 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the first quarter, Holdings Channel reports. The firm purchased 7,900 shares of the company’s stock, valued at approximately $587,000.

Several other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its position in shares of BridgeBio Pharma by 1.9% in the first quarter. Hillsdale Investment Management Inc. now owns 167,742 shares of the company’s stock valued at $12,457,000 after acquiring an additional 3,202 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of BridgeBio Pharma by 1.1% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 320,211 shares of the company’s stock worth $23,779,000 after purchasing an additional 3,427 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of BridgeBio Pharma by 1.2% during the first quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock worth $98,797,000 after purchasing an additional 16,112 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of BridgeBio Pharma by 7.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,343 shares of the company’s stock worth $2,253,000 after purchasing an additional 2,132 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of BridgeBio Pharma in the first quarter worth about $303,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

Shares of BBIO opened at $81.38 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $42.09 and a 1-year high of $93.42. The firm’s 50-day moving average price is $71.13 and its 200-day moving average price is $72.32. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of -21.76 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the prior year, the firm posted ($0.88) earnings per share. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial boosted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. HC Wainwright lifted their price objective on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Citigroup boosted their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group started coverage on BridgeBio Pharma in a report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 target price for the company. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.21.

Insider Activity

In other BridgeBio Pharma news, Director Jennifer E. Cook sold 148,589 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the transaction, the director owned 8,383 shares in the company, valued at approximately $742,230.82. This represents a 94.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the completion of the transaction, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This represents a 43.19% 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. In the last three months, insiders have sold 432,117 shares of company stock worth $32,633,740. Company insiders own 14.23% of the company’s stock.

BridgeBio Pharma Company 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.