Primecap Management Co. CA Has $29.94 Million Stock Position in BridgeBio Pharma, Inc. $BBIO

Primecap Management Co. CA trimmed its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,370 shares of the company’s stock after selling 12,340 shares during the period. Primecap Management Co. CA owned about 0.30% of BridgeBio Pharma worth $29,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $25,000. First Horizon Corp bought a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $36,000. AlphaQuest LLC raised its stake in shares of BridgeBio Pharma by 254.3% in the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock valued at $42,000 after purchasing an additional 585 shares in the last quarter. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter worth $35,000. Finally, GAMMA Investing LLC boosted its stake in BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Trading Down 1.7%

NASDAQ:BBIO opened at $66.48 on Friday. The stock has a market capitalization of $12.89 billion, a P/E ratio of -17.59 and a beta of 1.13. BridgeBio Pharma, Inc. has a 1 year low of $28.33 and a 1 year high of $84.94. The firm has a 50 day moving average of $74.76 and a 200-day moving average of $64.69.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The company had revenue of $154.18 million during the quarter, compared to analysts’ expectations of $150.71 million. During the same period last year, the company earned ($1.40) earnings per share. BridgeBio Pharma’s quarterly revenue was up 2521.2% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBIO shares. Morgan Stanley boosted their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Barclays initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 28th. They issued an “overweight” rating for the company. Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Raymond James Financial set a $89.00 price objective on BridgeBio Pharma and gave the company an “outperform” rating in a research note on Thursday, February 12th. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.50.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $75.46, for a total transaction of $754,600.00. Following the sale, the director owned 11,589 shares of the company’s stock, valued at $874,505.94. This represents a 46.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 28,053 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.39, for a total transaction of $2,002,703.67. Following the completion of the transaction, the chief executive officer directly owned 234,451 shares of the company’s stock, valued at approximately $16,737,456.89. This represents a 10.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 204,174 shares of company stock valued at $15,012,335. 18.20% of the stock is 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.