BridgeBio Pharma, Inc. $BBIO Stock Purchased by Profund Advisors LLC

Profund Advisors LLC grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 42.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,452 shares of the company’s stock after acquiring an additional 8,523 shares during the quarter. Profund Advisors LLC’s holdings in BridgeBio Pharma were worth $1,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $28,000. Allworth Financial LP purchased a new position in BridgeBio Pharma in the 2nd quarter worth approximately $31,000. Root Financial Partners LLC bought a new position in shares of BridgeBio Pharma in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. increased its holdings in shares of BridgeBio Pharma by 55.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock worth $29,000 after buying an additional 157 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma in the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

BBIO stock opened at $74.95 on Monday. BridgeBio Pharma, Inc. has a 52 week low of $60.22 and a 52 week high of $93.42. The firm’s fifty day moving average is $70.27 and its 200 day moving average is $72.84. The firm has a market cap of $14.60 billion, a P/E ratio of -24.65 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12. The business had revenue of $353.17 million during the quarter, compared to analysts’ expectations of $293.47 million. BridgeBio Pharma’s revenue for the quarter was up 192.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.95) EPS. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -2.65 EPS for the current year.

BridgeBio Pharma News Summary

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: Strong Q3 performance: BridgeBio reported third-quarter revenue of $353.2 million, well above the $293.5 million consensus estimate. The company’s loss of $0.42 per share was also narrower than expectations for a $0.54 loss and improved substantially from a $0.95 loss a year earlier. BridgeBio Pharma Q3 earnings report
• Positive Sentiment: Attruby sales accelerated: U.S. Attruby net product revenue reached $253.2 million, increasing approximately $31 million sequentially and $145 million year over year. Revenue also benefited from a one-time $75 million BEYONTTRA sales milestone from Bayer. BridgeBio third-quarter financial results
• Positive Sentiment: Solid financial flexibility: BridgeBio ended September with $1.5 billion in cash, cash equivalents and marketable securities, which management said fully funds all three launches and expansion indications. BridgeBio corporate update
• Positive Sentiment: Morgan Stanley raised its target: The firm increased its price target from $87 to $88 and maintained an “overweight” rating, signaling continued confidence in BBIO’s outlook. Morgan Stanley recommendations
• Negative Sentiment: TD Cowen reduced its target: Although the firm maintained a “buy” rating and still sees substantial upside, it lowered its price target from $110 to $100, tempering the overall analyst optimism. TD Cowen recommendations

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, September 25th. Canaccord Genuity Group increased their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Truist Financial raised their price target on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, October 5th. Finally, Barclays cut their price objective on BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Nineteen research 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.16.

Insider Activity

In other news, CEO Neil Kumar sold 34,980 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $82.53, for a total value of $2,886,899.40. Following the completion of the sale, the chief executive officer owned 243,327 shares of the company’s stock, valued at approximately $20,081,777.31. The trade was a 12.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,980 shares of company stock worth $4,417,999 over the last quarter. 14.23% of the stock is currently owned by company insiders.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.