BridgeBio Pharma, Inc. $BBIO Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 626,122 shares of the company’s stock after buying an additional 27,885 shares during the quarter. GW&K Investment Management LLC’s holdings in BridgeBio Pharma were worth $47,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BBIO. Global Retirement Partners LLC grew its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the period. Farther Finance Advisors LLC boosted its stake in BridgeBio Pharma by 91.4% in the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after purchasing an additional 508 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth $44,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in BridgeBio Pharma in the third quarter valued at $31,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,651 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% 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 Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the sale, the director owned 11,589 shares in the company, valued at $778,201.35. The trade was a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 211,754 shares of company stock worth $14,664,059. Company insiders own 14.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Oppenheimer dropped their price target on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Barclays reiterated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Leerink Partners restated an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a report on Thursday, March 12th. Citigroup started coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Twenty-three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.59.

BridgeBio Pharma Trading Up 0.5%

BridgeBio Pharma stock opened at $67.68 on Wednesday. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The stock has a market cap of $13.26 billion, a P/E ratio of -18.10 and a beta of 0.97. The stock has a 50 day moving average of $70.55 and a 200-day moving average of $72.13.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly 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 company had revenue of $194.52 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the previous year, the company earned ($0.88) earnings per share. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal 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.