BridgeBio Pharma (NASDAQ:BBIO) Issues Earnings Results, Misses Expectations By $0.27 EPS

BridgeBio Pharma (NASDAQ:BBIO) released its quarterly earnings results on Tuesday. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.27), FiscalAI reports. The company had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.40 during midday trading on Tuesday, reaching $68.31. 2,428,061 shares of the company traded hands, compared to its average volume of 3,277,595. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of -16.34 and a beta of 1.13. The company has a fifty day moving average price of $75.39 and a 200 day moving average price of $64.37. BridgeBio Pharma has a twelve month low of $28.33 and a twelve month high of $84.94.

Analyst Ratings Changes

BBIO has been the subject of a number of analyst reports. Evercore reissued an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Cantor Fitzgerald raised their price target on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Truist Financial lifted their price target on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.05.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 28,053 shares of BridgeBio Pharma stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $71.39, for a total value of $2,002,703.67. Following the sale, the chief executive officer directly owned 234,451 shares in the company, valued at $16,737,456.89. This trade represents a 10.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the completion of the sale, the director owned 11,589 shares in the company, valued at $874,505.94. The trade was a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 204,174 shares of company stock valued at $15,012,335. 18.20% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in BBIO. Price T Rowe Associates Inc. MD boosted its position in BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after acquiring an additional 2,261,181 shares during the period. Wellington Management Group LLP lifted its holdings in BridgeBio Pharma by 130.4% in the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after purchasing an additional 1,329,537 shares during the period. Invesco Ltd. lifted its holdings in BridgeBio Pharma by 40.3% in the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after purchasing an additional 1,127,592 shares during the period. Polar Capital Holdings Plc bought a new position in BridgeBio Pharma in the 3rd quarter valued at about $50,956,000. Finally, Farallon Capital Management LLC increased its stake in BridgeBio Pharma by 9.8% during the 4th quarter. Farallon Capital Management LLC now owns 8,998,463 shares of the company’s stock valued at $688,292,000 after buying an additional 806,463 shares during the period. Institutional investors own 99.85% of the company’s stock.

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.