81,600 Shares in BridgeBio Pharma, Inc. $BBIO Acquired by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 81,600 shares of the company’s stock, valued at approximately $6,242,000.

Several other large investors have also recently modified their holdings of BBIO. Aster Capital Management DIFC Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. Huntington National Bank raised its stake in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after acquiring an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on 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 owned 535,686 shares in the company, valued at $36,137,377.56. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the sale, the director directly owned 11,589 shares in the company, valued at $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 171,754 shares of company stock worth $11,914,859 over the last ninety days. 14.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on BBIO. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Canaccord Genuity Group began coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price target on the stock. Truist Financial upped their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. William Blair began coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Finally, Morgan Stanley upped their price target 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. Twenty-three investment 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’s stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $89.59.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $66.80 on Friday. The firm has a market capitalization of $13.08 billion, a P/E ratio of -17.86 and a beta of 0.97. BridgeBio Pharma, Inc. has a 1-year low of $38.57 and a 1-year high of $84.94. The company’s fifty day moving average price is $70.22 and its 200-day moving average price is $72.11.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data 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 analysts’ expectations of $178.07 million. BridgeBio Pharma’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.88) EPS. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 EPS 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.