Okabena Investment Services Inc. Makes New $816,000 Investment in BridgeBio Pharma, Inc. $BBIO

Okabena Investment Services Inc. acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,701 shares of the company’s stock, valued at approximately $816,000.

Several other hedge funds have also made changes to their positions in BBIO. Huntington National Bank increased its position in BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after acquiring an additional 392 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of BridgeBio Pharma during the third quarter worth $31,000. Artisan Partners Limited Partnership lifted its holdings in shares of BridgeBio Pharma by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 331,302 shares of the company’s stock worth $17,208,000 after purchasing an additional 13,015 shares during the period. DNB Asset Management AS acquired a new position in BridgeBio Pharma in the 3rd quarter valued at $541,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in BridgeBio Pharma during the 3rd quarter worth $226,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBIO. Morgan Stanley increased their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Wells Fargo & Company raised their price target on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. HC Wainwright upped their price objective on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Leerink Partners increased their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.50.

BridgeBio Pharma Stock Down 1.7%

Shares of BBIO stock opened at $66.48 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94. The stock has a market cap of $12.89 billion, a P/E ratio of -17.59 and a beta of 1.13. The business has a fifty day simple moving average of $74.76 and a 200-day simple moving average of $64.80.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same quarter last year, the firm posted ($1.40) earnings per share. The company’s revenue was up 2521.2% compared to the same quarter last year. On average, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Thomas Trimarchi sold 13,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $74.72, for a total value of $1,016,192.00. Following the sale, the chief financial officer owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $74.40, for a total value of $2,976,000.00. Following the transaction, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at $57,711,038.40. The trade was a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 204,174 shares of company stock valued at $15,012,335. 18.20% of the stock is currently owned by company insiders.

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.