BridgeBio Pharma, Inc. $BBIO Stock Holdings Increased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 139.4% in the 1st quarter, Holdings Channel reports. The firm owned 32,708 shares of the company’s stock after buying an additional 19,043 shares during the period. Hsbc Holdings PLC’s holdings in BridgeBio Pharma were worth $2,431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp bought a new stake in shares of BridgeBio Pharma during the 1st quarter worth $35,000. Farther Finance Advisors LLC grew its holdings in shares of BridgeBio Pharma by 91.4% in 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 during the last quarter. Global Retirement Partners LLC grew its holdings in shares of BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth $41,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group initiated coverage on BridgeBio Pharma in a report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 target price for the company. Citigroup upped their price objective on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Morgan Stanley boosted their price target on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, HC Wainwright upped their price target on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.21.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Jennifer E. Cook sold 148,589 shares of the stock in a transaction that occurred on 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 owned 8,383 shares in the company, valued at $742,230.82. This represents a 94.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares of the company’s stock, valued at $36,137,377.56. This trade represents a 6.95% 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. Insiders sold a total of 432,117 shares of company stock valued at $32,633,740 in the last 90 days. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

Shares of BridgeBio Pharma stock opened at $84.02 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $42.09 and a 1 year high of $93.42. The company has a market cap of $16.46 billion, a P/E ratio of -22.47 and a beta of 0.95. The stock has a 50-day moving average price of $72.69 and a 200 day moving average price of $72.53.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to the consensus estimate of $178.07 million. BridgeBio Pharma’s quarterly revenue was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.88) earnings per share. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.27 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.