Boone Capital Management LLC Takes Position in BridgeBio Pharma, Inc. $BBIO

Boone Capital Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 339,720 shares of the company’s stock, valued at approximately $25,302,000. BridgeBio Pharma comprises approximately 5.9% of Boone Capital Management LLC’s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma in the first quarter valued at about $35,000. First Trust Advisors LP increased its holdings in shares of BridgeBio Pharma by 200.4% in the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock valued at $11,386,000 after acquiring an additional 175,918 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock valued at $1,816,000 after acquiring an additional 731 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 purchasing an additional 2,206 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of research reports. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 target price on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Mizuho decreased their target price on BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.79.

BridgeBio Pharma Trading Down 1.3%

Shares of BBIO opened at $79.37 on Thursday. The business’s 50-day moving average price is $79.62 and its 200 day moving average price is $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 data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. During the same period in the previous year, the company earned ($0.95) earnings per share. The company’s quarterly revenue was up 120.4% on a year-over-year basis. On average, research analysts predict that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the transaction, the director owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. This trade represents a 94.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total transaction of $840,300.00. Following the transaction, the chief executive officer owned 505,686 shares in the company, valued at approximately $42,492,794.58. The trade was a 1.94% 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 have sold 387,343 shares of company stock valued at $30,289,400 over the last three months. 14.23% of the stock is owned by insiders.

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.