Financiere des Professionnels Fonds d investissement inc. Invests $587,000 in BridgeBio Pharma, Inc. $BBIO

Financiere des Professionnels Fonds d investissement inc. acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,900 shares of the company’s stock, valued at approximately $587,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC grew its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after buying an additional 372 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $41,000. Cary Street Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after buying an additional 508 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of BridgeBio Pharma during the 4th quarter worth $44,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $81.38 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $42.09 and a 52-week high of $93.42. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of -21.76 and a beta of 0.95. The company has a fifty day moving average of $71.13 and a 200-day moving average of $72.32.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.88) EPS. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrea Ellis sold 17,167 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value 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. The trade was a 43.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the sale, the chief financial officer owned 359,194 shares of the company’s stock, valued at $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 432,117 shares of company stock valued at $32,633,740. Company insiders own 14.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Mizuho cut their target price on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Truist Financial lifted their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley upped their price objective on BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group started coverage on BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective on the stock. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.21.

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.