American Century Companies Inc. Increases Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

American Century Companies Inc. has increased its investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 9.6% during the fourth quarter, as revealed in its latest report filed with the Securities and Exchange Commission. After acquiring an additional 88,882 shares, the fund now holds a total of 1,015,728 shares. Based on its recent SEC filing, the value of American Century’s holdings in BridgeBio Pharma stands at approximately $27,872,000.

Other significant investors have also made moves to buy and sell shares in BridgeBio. For instance, Ironwood Investment Management LLC enhanced its stake by 0.5% during the fourth quarter, now owning 63,157 shares, valued at $1,733,000, after purchasing an additional 338 shares. Steward Partners Investment Advisory LLC notably increased its holdings by 85.8%, owning 1,022 shares valued at $28,000 after acquiring 472 shares during the same period. Additionally, Xponance Inc. boosted its position by 9.1%, resulting in ownership of 10,089 shares worth $277,000 after adding 844 shares in the last quarter. Meanwhile, Tocqueville Asset Management L.P. expanded its stake by 7.2%, owning 18,975 shares valued at $521,000 after purchasing an additional 1,275 shares. Furthermore, Advisors Asset Management Inc. increased its stake by 56.1% in the third quarter, owning 4,576 shares valued at $117,000 following the acquisition of 1,645 shares. Collectively, hedge funds and institutional investors own a remarkable 99.85% of the company’s stock.

Insider Transactions

In other news, CEO Neil Kumar completed a transaction on January 28th, selling 326,932 shares of BridgeBio Pharma. The shares were sold for an average price of $36.29, totaling around $11,864,362. Post-sale, the CEO retains ownership of 5,371,515 shares, valued at roughly $194,932,279. This transaction represented a decrease of 5.74% in his ownership stake. This sale was officially recorded in a filing with the SEC. Moreover, CFO Brian C. Stephenson sold 4,148 shares on February 19th at an average price of $36.16, amounting to about $149,991.68. After this sale, the CFO possesses 102,464 shares valued at $3,705,098. This represented a 3.89% reduction in his ownership. Over the past 90 days, insiders have sold a combined total of 9,654,739 shares valued at $325,937,151, and insiders currently own 24.66% of the company's stock.

BridgeBio Pharma Stock Performance

The shares of NASDAQ:BBIO opened at $35.11 on a recent Friday, with a market capitalization of $6.68 billion. The stock's PE ratio is reported at -12.32, with a beta of 1.07. The company has a 50-day moving average of $34.26 and a 200-day moving average of $29.28. BridgeBio Pharma's stock has seen a low of $21.62 and a high of $39.47 over the past year.

In a recent earnings report on February 20th, BridgeBio Pharma announced a quarterly earnings per share of ($1.31), which missed the consensus estimate of ($1.09) by a margin of $0.22. The company reported revenue of $5.88 million, exceeding analysts' expectations of $4.04 million. Analysts forecast that BridgeBio Pharma will achieve an EPS of -3.67 for the current fiscal year.

Analyst Ratings Updates

Several research analysts have commented on BridgeBio Pharma’s stock. Cantor Fitzgerald reiterated an “overweight” rating, assigning a price target of $95.00. Similarly, JPMorgan Chase & Co. revised their price target from $44.00 to $50.00 while maintaining an “overweight” rating. Evercore ISI raised their target from $45.00 to $50.00, also rating the stock as “outperform.” Citigroup increased their price target from $45.00 to $49.00, rating it as a “buy.” HC Wainwright upheld a “buy” rating, issuing a target price of $49.00. In general, one analyst has recommended holding the stock, while ten others have issued buy ratings. According to MarketBeat.com data, BridgeBio Pharma holds an average rating of “Moderate Buy” with a consensus target price of $52.90.

About BridgeBio Pharma

BridgeBio Pharma, Inc. is a commercial-stage biopharmaceutical company dedicated to discovering, developing, and delivering transformative medicines for patients suffering from genetic diseases and cancers. The company's development programs include AG10, a next-generation oral small molecule intended to stabilize TTR for the treatment of transthyretin amyloidosis (ATTR-CM) and low-dose infigratinib for achondroplasia. Furthermore, BBP-631, an AAV5 gene transfer product for congenital adrenal hyperplasia, is in Phase 1/2 trials.

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