China Universal Asset Management Co. Ltd. Acquires 17,755 Shares of BridgeBio Pharma, Inc. $BBIO

China Universal Asset Management Co. Ltd. raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 57.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,926 shares of the company’s stock after acquiring an additional 17,755 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in BridgeBio Pharma were worth $3,228,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Silvant Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the second quarter worth about $28,000. Root Financial Partners LLC bought a new position in shares of BridgeBio Pharma in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its stake in BridgeBio Pharma by 55.3% in the third quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock valued at $29,000 after purchasing an additional 157 shares in the last quarter. Allworth Financial LP purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $44,000. Institutional investors own 99.85% of the company’s stock.

Key Headlines Impacting BridgeBio Pharma

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

• Positive Sentiment: Third-quarter revenue reached $353.2 million, well above the approximately $293.5 million consensus estimate and up 192.6% year over year. BridgeBio Q3 Revenue Earnings Flash
• Positive Sentiment: The company reported a quarterly loss of $0.42 per share, narrower than the $0.54 analyst consensus and significantly improved from a $0.95 loss in the year-earlier period. BridgeBio Q3 EPS Earnings Flash
• Positive Sentiment: U.S. Attruby net product revenue was $253.2 million, increasing approximately $31 million sequentially and $145 million year over year. The results reinforce the commercial momentum of BridgeBio’s primary revenue-generating product. BridgeBio Third-Quarter Results and Corporate Updates
• Positive Sentiment: BridgeBio ended September with $1.5 billion in cash, cash equivalents and marketable securities, which management said fully funds its three launches and expansion indications. This reduces near-term financing and dilution concerns. BridgeBio Cash Position
• Neutral Sentiment: Operating loss was $11.6 million, helped by higher revenue and a one-time $75 million BEYONTTRA sales milestone from Bayer. Investors may therefore distinguish recurring product growth from milestone-related revenue when assessing future quarters. BridgeBio Corporate Updates
• Negative Sentiment: Despite the improvement, BBIO remains unprofitable, and the company’s ability to sustain Attruby growth and execute its multiple launches will remain important to the stock’s valuation.

Insider Activity

In related news, CEO Neil Kumar sold 10,000 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $69.08, for a total transaction of $690,800.00. Following the transaction, the chief executive officer owned 495,686 shares of the company’s stock, valued at approximately $34,241,988.88. This trade represents a 1.98% decrease in their position. 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. Over the last three months, insiders have sold 54,980 shares of company stock valued at $4,417,999. 14.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BBIO has been the subject of several research analyst reports. UBS Group started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 15th. They set a “buy” rating and a $92.00 target price for the company. Truist Financial raised their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Canaccord Genuity Group raised their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings downgraded shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, September 25th. Finally, Mizuho upped their target price on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.63.

BridgeBio Pharma Trading Down 0.1%

Shares of NASDAQ BBIO opened at $70.73 on Friday. BridgeBio Pharma, Inc. has a one year low of $60.22 and a one year high of $93.42. The firm’s 50 day simple moving average is $70.43 and its two-hundred day simple moving average is $72.85.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.12. The business had revenue of $353.17 million for the quarter, compared to analysts’ expectations of $293.47 million. The company’s revenue was up 192.6% compared to the same quarter last year. During the same period last year, the business posted ($0.95) earnings per share. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.65 EPS for the current fiscal year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for genetically driven diseases. The company operates through a portfolio of subsidiary and affiliated biotechnology businesses, with research programs spanning rare diseases, oncology, cardiology and other conditions linked to underlying genetic or molecular causes.

BridgeBio’s portfolio includes therapies designed to address the root mechanisms of disease rather than primarily treating symptoms.