EFG International AG Makes New $6.12 Million Investment in BridgeBio Pharma, Inc. $BBIO

EFG International AG acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 82,172 shares of the company’s stock, valued at approximately $6,117,000.

Other large investors have also modified their holdings of the company. Silvant Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the second quarter worth approximately $28,000. Allworth Financial LP acquired a new stake in BridgeBio Pharma during the 2nd quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new position in BridgeBio Pharma during the 3rd quarter worth $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma in the first quarter valued at $35,000. Finally, Farther Finance Advisors LLC increased its stake in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $80.40 on Wednesday. The company has a market cap of $15.72 billion, a P/E ratio of -22.52 and a beta of 0.96. BridgeBio Pharma, Inc. has a one year low of $47.26 and a one year high of $93.42. The firm has a fifty day moving average of $79.38 and a two-hundred day moving average of $73.34.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The firm had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. The business’s revenue for the quarter was up 120.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) EPS. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

Insider Activity

In related news, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at $742,230.82. This trade represents a 94.66% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,808 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the sale, the director directly owned 11,455 shares in the company, valued at $778,940. This represents a 19.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 387,343 shares of company stock valued at $30,289,400. Company insiders own 14.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBIO. TD Cowen increased their target price on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Bank of America boosted their price target on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group upped their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Truist Financial increased their price objective on BridgeBio Pharma from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright increased 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. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.79.

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.