Hsbc Holdings PLC Takes $1.05 Million Position in BridgeBio Pharma, Inc. $BBIO

Hsbc Holdings PLC acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,665 shares of the company’s stock, valued at approximately $1,050,000.

A number of other large investors have also recently made changes to their positions in BBIO. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the first quarter valued at approximately $35,000. First Trust Advisors LP lifted its stake in BridgeBio Pharma by 200.4% in the second quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after acquiring an additional 175,918 shares during the last quarter. Baird Financial Group Inc. grew its holdings in BridgeBio Pharma by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after acquiring an additional 731 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $1,650,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BridgeBio Pharma by 2.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,326 shares of the company’s stock valued at $4,132,000 after purchasing an additional 2,206 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BBIO shares. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Citigroup initiated coverage on BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target on the stock. Morgan Stanley lifted their price target on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Royal Bank Of Canada assumed coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective for the company. Finally, HC Wainwright increased their price objective on BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $94.63.

Insider Activity at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the sale, the director owned 22,579 shares in the company, valued at approximately $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 8,383 shares of the company’s stock, valued at $742,230.82. The trade was a 94.66% 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. In the last 90 days, insiders have sold 432,117 shares of company stock valued at $32,633,740. Corporate insiders own 14.23% of the company’s stock.

Key Headlines Impacting BridgeBio Pharma

Here are the key news stories impacting BridgeBio Pharma this week:

• Positive Sentiment: HC Wainwright raised its price target on BridgeBio Pharma to $120 from $110 and reiterated a buy rating, signaling confidence in roughly 44% upside from recent levels. HC Wainwright Raises PT on BridgeBio Pharma
• Positive Sentiment: RBC Capital also reaffirmed its buy rating, adding to the bullish analyst tone around BBIO. RBC Reaffirms Buy Rating
• Positive Sentiment: Investors are also focusing on BridgeBio’s commercial momentum and pipeline progress, including strong Attruby sales and upcoming NDA activity that could expand the company’s growth prospects. BridgeBio Pipeline and Attruby Commentary
• Neutral Sentiment: A phase 3 setback for Ionis Pharmaceuticals was viewed as indirectly favorable for BridgeBio and some other biotech names, but the impact on BBIO itself appears more sentiment-driven than fundamental. Biotech Phase 3 Failure Article
• Negative Sentiment: Director Jennifer E. Cook sold 148,589 shares for about $13.2 million, a large reduction in ownership, which can raise concern among investors even though it was done under a Rule 10b5-1 plan. Jennifer E. Cook Insider Sale
• Negative Sentiment: Director Andrea Ellis also sold 17,167 shares, adding to the insider-selling narrative around BridgeBio Pharma. Andrea Ellis Insider Sale

BridgeBio Pharma Trading Down 3.3%

Shares of BridgeBio Pharma stock opened at $83.08 on Tuesday. The company has a fifty day simple moving average of $70.00 and a 200-day simple moving average of $72.14. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of -22.21 and a beta of 0.95. BridgeBio Pharma, Inc. has a 12-month low of $42.09 and a 12-month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the prior year, the company earned ($0.88) EPS. BridgeBio Pharma’s quarterly revenue was up 66.8% compared to the same quarter last year. On average, analysts forecast that BridgeBio Pharma, Inc. will post -2.3 earnings per share for the current fiscal year.

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.