Legal & General Group Plc Acquires 23,716 Shares of BridgeBio Pharma, Inc. $BBIO

Legal & General Group Plc boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,573 shares of the company’s stock after purchasing an additional 23,716 shares during the period. Legal & General Group Plc’s holdings in BridgeBio Pharma were worth $6,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BBIO. Hillsdale Investment Management Inc. purchased a new stake in BridgeBio Pharma in the second quarter worth $6,786,000. Entropy Technologies LP bought a new position in BridgeBio Pharma in the 2nd quarter worth $1,671,000. Eagle Health Investments LP purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $11,197,000. Swiss National Bank lifted its position in shares of BridgeBio Pharma by 6.9% in the 2nd quarter. Swiss National Bank now owns 254,400 shares of the company’s stock worth $10,985,000 after purchasing an additional 16,400 shares during the period. Finally, Main Management ETF Advisors LLC boosted its stake in shares of BridgeBio Pharma by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 3.8%

BBIO stock opened at $74.15 on Thursday. The business has a 50 day moving average of $61.02 and a 200 day moving average of $50.70. The firm has a market cap of $14.29 billion, a PE ratio of -17.74 and a beta of 1.26. BridgeBio Pharma, Inc. has a twelve month low of $25.34 and a twelve month high of $74.34.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the previous year, the company posted ($0.86) earnings per share. BridgeBio Pharma’s revenue was up 4318.0% compared to the same quarter last year. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on BBIO shares. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of BridgeBio Pharma in a research note on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Truist Financial reiterated a “buy” rating and issued a $80.00 price objective (up previously from $66.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Finally, Cantor Fitzgerald boosted their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Twenty investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Hannah Valantine sold 25,484 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $66.07, for a total transaction of $1,683,727.88. Following the transaction, the director directly owned 7,465 shares of the company’s stock, valued at $493,212.55. This represents a 77.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew Lo sold 55,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total value of $3,612,950.00. Following the sale, the director owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 589,204 shares of company stock worth $37,370,800. 18.20% of the stock is owned by corporate insiders.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.