BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Diversified Trust Co

Diversified Trust Co raised its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 28.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 35,713 shares of the company’s stock after acquiring an additional 8,011 shares during the period. Diversified Trust Co’s holdings in BridgeBio Pharma were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares in the last quarter. Janus Henderson Group PLC grew its holdings in BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of BridgeBio Pharma by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after buying an additional 75,564 shares during the period. Finally, Norges Bank bought a new position in shares of BridgeBio Pharma in the fourth quarter worth $46,843,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBIO has been the topic of a number of research analyst reports. Evercore ISI lowered their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, July 1st. JPMorgan Chase & Co. cut their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group reduced their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Finally, Bank of America lowered their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.09.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded down $0.32 during trading hours on Wednesday, reaching $23.59. The company’s stock had a trading volume of 171,824 shares, compared to its average volume of 1,775,383. The firm has a fifty day simple moving average of $26.24 and a 200-day simple moving average of $28.67. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32. The stock has a market cap of $4.41 billion, a P/E ratio of -7.43 and a beta of 1.06.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. During the same quarter last year, the business posted ($0.98) EPS. The company’s quarterly revenue was up 32.1% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.66% of the stock is currently owned by insiders.

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.