Total Clarity Wealth Management Inc. Has $1.02 Million Position in BridgeBio Pharma, Inc. $BBIO

Total Clarity Wealth Management Inc. raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 133.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,682 shares of the company’s stock after purchasing an additional 7,821 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in BridgeBio Pharma were worth $1,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Diversified Trust Co grew its holdings in shares of BridgeBio Pharma by 12.2% during the first quarter. Diversified Trust Co now owns 43,971 shares of the company’s stock valued at $3,265,000 after buying an additional 4,770 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $1,050,000. Rockefeller Capital Management L.P. raised its holdings in shares of BridgeBio Pharma by 189.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 38,429 shares of the company’s stock worth $2,939,000 after acquiring an additional 25,169 shares during the last quarter. Invesco Ltd. lifted its position in BridgeBio Pharma by 23.0% in the 4th quarter. Invesco Ltd. now owns 4,831,305 shares of the company’s stock valued at $369,547,000 after acquiring an additional 902,648 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in BridgeBio Pharma by 8.9% in the 4th quarter. Mackenzie Financial Corp now owns 54,495 shares of the company’s stock valued at $4,105,000 after acquiring an additional 4,448 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Mizuho decreased their price objective on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Oppenheimer cut their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Truist Financial lifted their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, William Blair assumed coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating for the company. Twenty-two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $91.05.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $68.92 on Tuesday. The business’s fifty day moving average is $69.49 and its 200-day moving average is $71.94. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of -18.43 and a beta of 0.98. BridgeBio Pharma, Inc. has a one year low of $41.30 and a one year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.88) EPS. Research analysts expect that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the sale, the chief accounting officer owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the transaction, the chief executive officer owned 575,686 shares in the company, valued at approximately $39,089,079.40. The trade was a 6.50% 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. Over the last quarter, insiders sold 261,994 shares of company stock valued at $17,926,648. 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.