Encompass More Asset Management Buys New Shares in BridgeBio Pharma, Inc. $BBIO

Encompass More Asset Management bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,194 shares of the company’s stock, valued at approximately $1,086,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of BridgeBio Pharma by 23.0% during the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after acquiring an additional 236,885 shares during the period. L & S Advisors Inc acquired a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $877,000. TD Asset Management Inc acquired a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $4,620,000. Central Pacific Bank Trust Division acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $789,000. Finally, Federated Hermes Inc. raised its holdings in shares of BridgeBio Pharma by 53.0% during the third quarter. Federated Hermes Inc. now owns 424,695 shares of the company’s stock valued at $22,059,000 after acquiring an additional 147,108 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 13,600 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total transaction of $1,016,192.00. Following the transaction, the chief financial officer owned 336,585 shares in the company, valued at $25,149,631.20. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total transaction of $754,600.00. Following the transaction, the director owned 11,589 shares in the company, valued at approximately $874,505.94. This trade represents a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 239,084 shares of company stock worth $16,777,579 over the last quarter. 14.23% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Stock Down 1.0%

Shares of BBIO opened at $68.09 on Thursday. The company’s fifty day moving average is $71.29 and its 200-day moving average is $71.23. BridgeBio Pharma, Inc. has a 12 month low of $31.77 and a 12 month high of $84.94. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of -18.01 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to the consensus estimate of $150.71 million. During the same quarter last year, the business posted ($1.40) EPS. The firm’s revenue was up 2521.2% compared to the same quarter last year. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday, January 21st. 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, February 25th. Truist Financial boosted their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a report on Monday, January 12th. Finally, Mizuho restated an “outperform” rating and set a $106.00 price target on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Twenty-four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

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.