BridgeBio Pharma, Inc. $BBIO Stock Bought by Candriam S.C.A.

Candriam S.C.A. lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 133.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 702,845 shares of the company’s stock after buying an additional 402,325 shares during the quarter. Candriam S.C.A.’s holdings in BridgeBio Pharma were worth $46,416,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jupiter Topco LLC acquired a new position in shares of BridgeBio Pharma in the second quarter valued at approximately $1,050,762,000. Janus Henderson Group PLC lifted its stake in shares of BridgeBio Pharma by 19.8% during the first quarter. Janus Henderson Group PLC now owns 13,179,013 shares of the company’s stock valued at $978,608,000 after buying an additional 2,178,556 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in BridgeBio Pharma during the second quarter worth approximately $145,663,000. Pictet Asset Management Holding SA boosted its position in BridgeBio Pharma by 16.8% during the third quarter. Pictet Asset Management Holding SA now owns 1,690,829 shares of the company’s stock worth $111,290,000 after acquiring an additional 242,703 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in BridgeBio Pharma by 1.2% during 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 during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial boosted their price target on BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Piper Sandler raised their price objective on BridgeBio Pharma from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Cantor Fitzgerald restated an “overweight” rating on shares of BridgeBio Pharma in a report on Monday, October 5th. Bank of America lifted their price objective on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings lowered BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. 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. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.26.

BridgeBio Pharma Stock Up 0.0%

Shares of NASDAQ BBIO opened at $74.29 on Friday. The stock has a market capitalization of $14.47 billion, a PE ratio of -24.44 and a beta of 0.97. The firm has a fifty day moving average of $69.76 and a 200-day moving average of $72.78. BridgeBio Pharma, Inc. has a 52-week low of $60.55 and a 52-week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, October 29th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to analysts’ expectations of $293.47 million. During the same period last year, the business posted ($0.95) earnings per share. The company’s quarterly revenue was up 192.6% compared to the same quarter last year. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity

In other news, CEO Neil Kumar sold 10,000 shares of the firm’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 in the company, valued at $34,241,988.88. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the firm’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 completion of the transaction, the chief accounting officer owned 120,687 shares in the company, valued at approximately $8,792,047.95. This trade represents a 1.63% decrease in their ownership of the stock. 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 56,980 shares of company stock valued at $4,563,699 over the last 90 days. 14.23% of the stock is currently owned by insiders.

BridgeBio Pharma Profile

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.