Commerce Bank Makes New $899,000 Investment in BridgeBio Pharma, Inc. $BBIO

Commerce Bank purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,076 shares of the company’s stock, valued at approximately $899,000.

Several other large investors have also modified their holdings of BBIO. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. First Trust Advisors LP grew its holdings in BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after buying an additional 175,918 shares during the last quarter. Baird Financial Group Inc. grew its holdings in BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after buying an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in BridgeBio Pharma during the second quarter worth $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in BridgeBio Pharma by 2.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock worth $4,132,000 after buying an additional 2,206 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the topic of several recent research reports. Morgan Stanley reduced their price objective on BridgeBio Pharma from $98.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. TD Cowen boosted their target price on shares of BridgeBio Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Finally, Mizuho decreased their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.79.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 10,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.03, for a total value of $840,300.00. Following the completion of the sale, the chief executive officer owned 505,686 shares of the company’s stock, valued at $42,492,794.58. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the transaction, the director directly owned 8,383 shares in the company, valued at approximately $742,230.82. This represents a 94.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 387,343 shares of company stock valued at $30,289,400. 14.23% of the stock is owned by corporate insiders.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $79.37 on Thursday. The stock has a 50-day simple moving average of $79.62 and a 200-day simple moving average of $73.45. The stock has a market capitalization of $15.52 billion, a P/E ratio of -22.23 and a beta of 0.96. BridgeBio Pharma, Inc. has a 1 year low of $48.78 and a 1 year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to analysts’ expectations of $220.91 million. The business’s revenue for the quarter was up 120.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.95) EPS. Analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

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.