27,600 Shares in BridgeBio Pharma, Inc. $BBIO Purchased by Swedbank AB

Swedbank AB acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 27,600 shares of the company’s stock, valued at approximately $2,111,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. L & S Advisors Inc purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $877,000. Principal Financial Group Inc. boosted its position in shares of BridgeBio Pharma by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock worth $65,829,000 after buying an additional 236,885 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $4,620,000. Candriam S.C.A. purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $7,738,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $789,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BridgeBio Pharma

In other news, Director Andrea Ellis sold 64,921 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the transaction, the director owned 18,589 shares of the company’s stock, valued at $1,205,868.43. This represents a 77.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, 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. Over the last 90 days, insiders have sold 236,675 shares of company stock worth $16,177,085. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Trading Down 1.9%

NASDAQ:BBIO opened at $66.44 on Thursday. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of -17.76 and a beta of 1.02. The company’s 50-day moving average is $71.20 and its two-hundred day moving average is $72.05. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the prior year, the company posted ($0.88) earnings per share. BridgeBio Pharma’s revenue was up 66.8% on a year-over-year basis. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Citigroup initiated coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Twenty-two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.90.

BridgeBio Pharma Company 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.