Two Sigma Securities LLC Takes $1.32 Million Position in BridgeBio Pharma, Inc. $BBIO

Two Sigma Securities LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,689 shares of the company’s stock, valued at approximately $1,317,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $1,050,762,000. Brooklands Fund Management Ltd acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $210,348,000. Price T Rowe Associates Inc. MD lifted its holdings in BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after purchasing an additional 2,259,378 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in BridgeBio Pharma during the second quarter worth $145,663,000. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBIO. Mizuho dropped their price objective on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of BridgeBio Pharma in a report on Tuesday, August 11th. Truist Financial upped their price target on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Citigroup increased their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Raymond James Financial downgraded shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Twenty equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.79.

BridgeBio Pharma Trading Down 0.0%

Shares of BridgeBio Pharma stock opened at $76.59 on Tuesday. The company has a market cap of $14.97 billion, a PE ratio of -21.45 and a beta of 0.96. The company has a 50 day moving average of $80.23 and a 200-day moving average of $73.59. BridgeBio Pharma, Inc. has a 1-year low of $48.78 and a 1-year high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million for the quarter, compared to analyst estimates of $220.91 million. BridgeBio Pharma’s quarterly revenue was up 120.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.95) EPS. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Andrea Ellis sold 17,167 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the transaction, the director owned 22,579 shares in the company, valued at $1,896,636. The trade was a 43.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total transaction of $840,300.00. Following the transaction, the chief executive officer directly owned 505,686 shares in the company, valued at $42,492,794.58. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 387,343 shares of company stock valued at $30,289,400 over the last ninety days. 14.23% of the stock is currently owned by corporate insiders.

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.