BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 751,355 shares of the company’s stock after acquiring an additional 253,101 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.40% of BridgeBio Pharma worth $19,129,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bfsg LLC increased its position in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth $48,000. Values First Advisors Inc. acquired a new position in BridgeBio Pharma in the third quarter valued at $57,000. CWM LLC boosted its holdings in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in BridgeBio Pharma during the first quarter worth about $117,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 8.8 %

BridgeBio Pharma stock opened at $25.48 on Friday. 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 $4.79 billion, a P/E ratio of -9.69 and a beta of 1.09. The stock has a 50 day moving average of $26.00 and a 200-day moving average of $26.40.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.98) earnings per share. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -2.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI decreased their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective 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. Scotiabank started coverage on shares of BridgeBio Pharma in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $44.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Friday, October 25th. Finally, Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

BridgeBio Pharma Company 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.