VIRGINIA RETIREMENT SYSTEMS ET Al Increases Stock Holdings in BridgeBio Pharma, Inc. $BBIO

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 146.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,850 shares of the company’s stock after buying an additional 15,350 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in BridgeBio Pharma were worth $1,977,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the third quarter valued at about $31,000. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma during the third quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the first quarter valued at about $35,000. First Horizon Corp purchased a new stake in BridgeBio Pharma during the third quarter valued at about $36,000. Finally, Huntington National Bank grew its position in BridgeBio Pharma by 111.7% during the third 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. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $66.13 on Friday. BridgeBio Pharma, Inc. has a one year low of $31.77 and a one year high of $84.94. The business’s 50-day simple moving average is $71.38 and its 200 day simple moving average is $71.73. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of -17.68 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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 company had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. During the same quarter last year, the business posted ($0.88) EPS. The business’s quarterly revenue was up 66.8% on a year-over-year basis. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BBIO. Truist Financial boosted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Raymond James Financial set a $89.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Oppenheimer decreased their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Morgan Stanley upped their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Twenty-four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.19.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the company’s 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 sale, the chief executive officer owned 575,686 shares in the company, valued at $39,089,079.40. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the sale, the director owned 18,589 shares in the company, valued at $1,205,868.43. The trade was a 77.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 239,084 shares of company stock valued at $16,615,979 over the last three months. Company 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.