BridgeBio Pharma’s (NASDAQ:BBIO) Quiet Period Will End Tomorrow

BridgeBio Pharma’s (NASDAQ:BBIO) quiet period will end on Tuesday, August 6th. BridgeBio Pharma had issued 20,500,000 shares in its public offering on June 27th. The total size of the offering was $348,500,000 based on an initial share price of $17.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Several analysts have weighed in on BBIO shares. Goldman Sachs Group started coverage on BridgeBio Pharma in a report on Monday, July 22nd. They issued a “buy” rating and a $42.00 target price on the stock. Raymond James started coverage on BridgeBio Pharma in a report on Friday, July 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Piper Jaffray Companies started coverage on BridgeBio Pharma in a report on Monday, July 22nd. They issued an “overweight” rating and a $50.00 target price on the stock. Jefferies Financial Group started coverage on BridgeBio Pharma in a report on Monday, July 22nd. They issued a “buy” rating and a $38.00 target price on the stock. Finally, BMO Capital Markets started coverage on BridgeBio Pharma in a report on Monday, July 22nd. They issued an “outperform” rating and a $49.00 target price on the stock. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $40.13.

BBIO opened at $28.29 on Monday. BridgeBio Pharma has a 52 week low of $24.06 and a 52 week high of $32.81.

In related news, major shareholder Global Investors Lp Viking acquired 4,705,900 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were acquired at an average price of $17.00 per share, with a total value of $80,000,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average cost of $17.00 per share, for a total transaction of $45,000,700.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 7,408,500 shares of company stock worth $125,944,500.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $476,000. Alpine Group USVI LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $539,000. TimesSquare Capital Management LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $4,046,000. Finally, Janus Henderson Group PLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $9,331,000. 0.02% of the stock is currently owned by hedge funds and other institutional investors.

About BridgeBio Pharma

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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