Xponance Inc. Acquires New Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Xponance Inc. acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,962 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of BridgeBio Pharma by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock worth $663,000 after acquiring an additional 386 shares during the last quarter. Diversified Trust Co increased its stake in shares of BridgeBio Pharma by 2.5% in the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock worth $451,000 after acquiring an additional 411 shares during the last quarter. Amalgamated Bank increased its stake in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock worth $416,000 after acquiring an additional 576 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of BridgeBio Pharma by 4.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock worth $403,000 after acquiring an additional 720 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of BridgeBio Pharma by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,773 shares of the company’s stock worth $2,655,000 after acquiring an additional 904 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 28.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BBIO. Raymond James began coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company. Mizuho lowered their price target on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of BridgeBio Pharma in a report on Monday, March 4th. Cantor Fitzgerald increased their price target on BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and an average target price of $47.82.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $24.88 on Friday. The company has a market cap of $4.37 billion, a P/E ratio of -6.31 and a beta of 1.03. The stock has a 50-day moving average of $29.42 and a two-hundred day moving average of $31.76. BridgeBio Pharma, Inc. has a 1-year low of $12.75 and a 1-year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. BridgeBio Pharma’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.92) earnings per share. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.