BridgeBio Pharma, Inc. $BBIO Holdings Lifted by Eagle Health Investments LP

Eagle Health Investments LP boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,031 shares of the company’s stock after purchasing an additional 7,731 shares during the quarter. BridgeBio Pharma makes up approximately 3.5% of Eagle Health Investments LP’s holdings, making the stock its 10th biggest position. Eagle Health Investments LP owned 0.14% of BridgeBio Pharma worth $19,830,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of BridgeBio Pharma by 199.2% in the first quarter. Quantinno Capital Management LP now owns 32,240 shares of the company’s stock worth $2,394,000 after buying an additional 21,464 shares in the last quarter. ABS Direct Equity Fund LLC bought a new position in shares of BridgeBio Pharma during the first quarter worth $86,000. Granahan Investment Management LLC grew its stake in BridgeBio Pharma by 1.1% during the first quarter. Granahan Investment Management LLC now owns 102,911 shares of the company’s stock valued at $7,642,000 after acquiring an additional 1,106 shares in the last quarter. Renaissance Technologies LLC purchased a new position in BridgeBio Pharma during the first quarter valued at $27,162,000. Finally, Atika Capital Management LLC bought a new stake in BridgeBio Pharma in the 1st quarter valued at $2,614,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BBIO. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Royal Bank Of Canada initiated coverage on BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price on the stock. Morgan Stanley boosted their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Truist Financial increased their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $95.21.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of the firm’s 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 sale, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. This trade represents a 43.19% decrease in their position. The transaction 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 Jennifer E. Cook sold 148,589 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. This trade represents a 94.66% 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 90 days, insiders sold 432,117 shares of company stock valued at $32,633,740. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Up 0.1%

BBIO stock opened at $84.12 on Tuesday. BridgeBio Pharma, Inc. has a 52 week low of $42.09 and a 52 week high of $93.42. The company has a fifty day simple moving average of $73.07 and a two-hundred day simple moving average of $72.59. The firm has a market capitalization of $16.48 billion, a P/E ratio of -22.49 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The company’s quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.88) EPS. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

About BridgeBio Pharma

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.