TD Asset Management Inc Makes New Investment in BridgeBio Pharma, Inc. $BBIO

TD Asset Management Inc purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 88,950 shares of the company’s stock, valued at approximately $4,620,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of BridgeBio Pharma during the second quarter worth about $84,488,000. Invesco Ltd. boosted its position in BridgeBio Pharma by 27.0% during the 2nd quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock worth $120,950,000 after acquiring an additional 594,902 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of BridgeBio Pharma by 142.1% during the 2nd quarter. Franklin Resources Inc. now owns 821,405 shares of the company’s stock worth $35,468,000 after acquiring an additional 482,149 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of BridgeBio Pharma by 2.1% in the third quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after purchasing an additional 347,074 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of BridgeBio Pharma by 280.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 465,401 shares of the company’s stock worth $20,096,000 after purchasing an additional 343,158 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $64.53 on Wednesday. The company’s 50-day moving average is $74.30 and its 200-day moving average is $65.09. The firm has a market capitalization of $12.51 billion, a PE ratio of -17.07 and a beta of 1.13. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. The business’s revenue was up 2521.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.40) EPS. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $74.40, for a total transaction of $2,976,000.00. Following the completion of the sale, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at approximately $57,711,038.40. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the sale, the director directly owned 11,589 shares of the company’s stock, valued at $874,505.94. This represents a 46.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 204,174 shares of company stock worth $15,012,335 over the last three months. Company insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James Financial set a $89.00 target price on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their target price on BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Morgan Stanley raised their price target on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Truist Financial upped their price objective on BridgeBio Pharma from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Barclays started coverage on BridgeBio Pharma in a report on Wednesday, January 28th. They issued an “overweight” rating for the company. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $82.50.

About BridgeBio Pharma

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.