Nicholas Investment Partners LP Purchases 13,052 Shares of BridgeBio Pharma, Inc. $BBIO

Nicholas Investment Partners LP boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,682 shares of the company’s stock after acquiring an additional 13,052 shares during the quarter. BridgeBio Pharma accounts for about 1.6% of Nicholas Investment Partners LP’s holdings, making the stock its 9th biggest holding. Nicholas Investment Partners LP’s holdings in BridgeBio Pharma were worth $21,775,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in BridgeBio Pharma by 2.1% in the 3rd 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. Farallon Capital Management LLC increased its stake in BridgeBio Pharma by 3.7% in the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock valued at $425,492,000 after buying an additional 292,000 shares during the period. Aisling Capital Management LP increased its stake in BridgeBio Pharma by 0.4% in the 3rd quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after buying an additional 21,486 shares during the period. Geode Capital Management LLC increased its stake in BridgeBio Pharma by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 4,412,523 shares of the company’s stock valued at $344,689,000 after buying an additional 502,582 shares during the period. Finally, Invesco Ltd. increased its stake in BridgeBio Pharma by 40.3% in the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after buying an additional 1,127,592 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares in the company, valued at $36,137,377.56. The trade was a 6.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% 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 171,754 shares of company stock valued at $11,914,859 over the last 90 days. 14.23% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Stock Down 1.1%

NASDAQ:BBIO opened at $66.80 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $84.94. The stock has a market cap of $13.08 billion, a PE ratio of -17.86 and a beta of 0.97. The firm’s fifty day simple moving average is $70.22 and its 200-day simple moving average is $72.11.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share 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 analyst estimates of $178.07 million. During the same quarter in the previous year, the business posted ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective on the stock. Leerink Partners reissued an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Oppenheimer dropped their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Truist Financial upped their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Twenty-three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.59.

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.