Thrivent Financial for Lutherans Makes New $4.57 Million Investment in BridgeBio Pharma, Inc. $BBIO

Thrivent Financial for Lutherans purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,708 shares of the company’s stock, valued at approximately $4,567,000.

Several other hedge funds also recently modified their holdings of BBIO. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the first quarter worth approximately $35,000. First Trust Advisors LP increased its holdings in shares of BridgeBio Pharma by 200.4% during the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after buying an additional 175,918 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.8% during the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after buying an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of BridgeBio Pharma during the second quarter worth approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrea Ellis sold 64,921 shares of the firm’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 completion of the sale, the director owned 18,589 shares of the company’s stock, valued at $1,205,868.43. This trade represents a 77.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Randal W. Scott sold 10,000 shares of the firm’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 transaction of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. This represents 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. Insiders have sold a total of 210,572 shares of company stock valued at $14,364,492 over the last quarter. Company insiders own 14.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BBIO. Barclays reaffirmed an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Morgan Stanley raised their price objective on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Truist Financial raised their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada began coverage on shares of BridgeBio Pharma in a report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective for the company. Twenty-three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $88.90.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $69.12 on Friday. The firm has a market cap of $13.54 billion, a P/E ratio of -18.48 and a beta of 1.02. The firm has a 50 day simple moving average of $71.30 and a 200 day simple moving average of $71.86. BridgeBio Pharma, Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) earnings per share. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS 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.