Panagora Asset Management Inc. Purchases 9,319 Shares of BridgeBio Pharma, Inc. $BBIO

Panagora Asset Management Inc. lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 738,843 shares of the company’s stock after buying an additional 9,319 shares during the period. Panagora Asset Management Inc. owned approximately 0.38% of BridgeBio Pharma worth $56,514,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma in the 3rd quarter worth $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma in the third quarter worth about $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the first quarter worth about $35,000. Huntington National Bank boosted its position in BridgeBio Pharma by 111.7% during 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BBIO shares. Canaccord Genuity Group began coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Truist Financial upped their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Twenty-three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.59.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $66.80 on Monday. The firm has a market cap of $13.08 billion, a P/E ratio of -17.86 and a beta of 0.98. BridgeBio Pharma, Inc. has a twelve month low of $38.57 and a twelve month high of $84.94. The company has a 50 day moving average of $70.22 and a 200 day moving average of $72.12.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. The company’s revenue was up 66.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.88) EPS. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total transaction of $143,160.00. Following the transaction, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the completion of the sale, the chief executive officer owned 575,686 shares of the company’s stock, valued at $39,089,079.40. This represents a 6.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 171,754 shares of company stock worth $11,914,859 in the last 90 days. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma 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.