EP Wealth Advisors LLC Buys Shares of 7,099 BridgeBio Pharma, Inc. $BBIO

EP Wealth Advisors LLC bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,099 shares of the company’s stock, valued at approximately $529,000.

Several other hedge funds have also modified their holdings of the company. Silvant Capital Management LLC bought a new stake in shares of BridgeBio Pharma in the 2nd quarter valued at about $28,000. Allworth Financial LP bought a new position in shares of BridgeBio Pharma during the 2nd 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 purchased a new stake in BridgeBio Pharma during the first quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC lifted its position in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Down 0.5%

Shares of BridgeBio Pharma stock opened at $81.07 on Tuesday. The firm has a market capitalization of $15.85 billion, a P/E ratio of -22.71 and a beta of 0.96. The company has a 50 day moving average price of $79.11 and a 200 day moving average price of $73.31. BridgeBio Pharma, Inc. has a 52 week low of $46.81 and a 52 week high of $93.42.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million for the quarter, compared to the consensus estimate of $220.91 million. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.95) EPS. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. TD Cowen raised their price objective on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $100.79.

Insider Activity at BridgeBio Pharma

In other news, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total transaction of $1,442,028.00. Following the completion of the sale, the director directly owned 22,579 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the sale, the director owned 8,383 shares of the company’s stock, valued at $742,230.82. The trade was a 94.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 387,343 shares of company stock worth $30,289,400. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma 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.