Lionsbridge Wealth Management LLC Makes New Investment in BridgeBio Pharma, Inc. $BBIO

Lionsbridge Wealth Management LLC acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,453 shares of the company’s stock, valued at approximately $704,000.

A number of other hedge funds have also made changes to their positions in BBIO. Silvant Capital Management LLC acquired a new position in shares of BridgeBio Pharma during the 2nd quarter valued at $28,000. Allworth Financial LP purchased a new position in BridgeBio Pharma in the second quarter valued at about $31,000. Global Retirement Partners LLC lifted its stake in shares of BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BBIO shares. Citigroup increased their target price on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Piper Sandler increased their price objective on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Truist Financial increased their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Raymond James Financial cut 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.53.

Insiders Place Their Bets

In other news, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. This trade represents a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of BridgeBio Pharma stock in a transaction on Thursday, July 9th. The stock was 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 owned 22,579 shares of the company’s stock, valued at approximately $1,896,636. This trade represents a 43.19% decrease in their position. 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 quarter, insiders sold 387,343 shares of company stock valued at $30,289,400. Company insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $76.57 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $48.78 and a 1 year high of $93.42. The stock’s 50-day simple moving average is $80.39 and its 200-day simple moving average is $73.61. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of -21.45 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $220.91 million. During the same period in the prior year, the company earned ($0.95) earnings per share. The business’s revenue was up 120.4% compared to the same quarter last year. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -2.62 EPS for the current year.

About BridgeBio Pharma

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.