BridgeBio Pharma, Inc. $BBIO Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 16.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,690,829 shares of the company’s stock after buying an additional 242,703 shares during the period. Pictet Asset Management Holding SA’s holdings in BridgeBio Pharma were worth $111,290,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BBIO. Jupiter Topco LLC acquired a new stake in BridgeBio Pharma during the 2nd quarter worth $1,050,762,000. Janus Henderson Group PLC grew its stake in BridgeBio Pharma by 19.8% in the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after acquiring an additional 2,178,556 shares during the period. The Manufacturers Life Insurance Company acquired a new position in BridgeBio Pharma in the second quarter valued at about $145,663,000. Principal Financial Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.2% in the first quarter. Principal Financial Group Inc. now owns 1,330,415 shares of the company’s stock worth $98,797,000 after acquiring an additional 16,112 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of BridgeBio Pharma by 114.2% in the second quarter. Squarepoint Ops LLC now owns 1,191,732 shares of the company’s stock worth $88,760,000 after acquiring an additional 635,408 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

BBIO has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Friday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of BridgeBio Pharma in a research report on Monday, October 5th. Wells Fargo & Company boosted their price objective on BridgeBio Pharma from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group increased their target price on BridgeBio Pharma from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Nineteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.26.

BridgeBio Pharma Stock Performance

BBIO opened at $74.29 on Monday. The stock has a market capitalization of $14.47 billion, a P/E ratio of -24.44 and a beta of 0.97. BridgeBio Pharma, Inc. has a 12 month low of $60.55 and a 12 month high of $93.42. The firm’s fifty day simple moving average is $69.76 and its 200 day simple moving average is $72.78.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.12. The company had revenue of $353.17 million during the quarter, compared to analyst estimates of $293.47 million. BridgeBio Pharma’s revenue for the quarter was up 192.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.95) earnings per share. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity

In other news, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $72.85, for a total value of $145,700.00. Following the sale, the chief accounting officer directly owned 120,687 shares in the company, valued at $8,792,047.95. The trade was a 1.63% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $69.08, for a total value of $690,800.00. Following the transaction, the chief executive officer directly owned 495,686 shares of the company’s stock, valued at $34,241,988.88. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,980 shares of company stock worth $4,563,699 in the last three months. Company insiders own 14.23% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas.

Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.

BridgeBio is headquartered in Palo Alto, California.