The Vanguard Group, Inc. has recently announced that it has increased stake in BridgeBio Pharma Inc. (NASDAQ:BBIO) by 14.03%. After grabbing 11.84 million shares, the institutional investor is now in possession of 1.46 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 7.39% having worth around $171.88 million. Moreover, Cormorant Asset Management LP increased its share by 3.19 million to have a control over 4.56 million shares. And Laurion Capital Management LP raised its holdings to 1.29 million shares by acquiring 3.51 million shares or 2.19% of the stake.
BridgeBio Pharma Inc. (BBIO) concluded trading on 05/24/23 at a closing price of $13.29, with 1.76 million shares of worth about $23.36 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 51.19% during that period and on Wednesday the price saw a loss of about -2.71%. Currently the company’s common shares owned by public are about 152.65M shares, out of which, 107.05M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the BBIO stock and their offered price forecasts bring an average price target of $28.60. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $40.00 and could fall to a lowest price of $18.00. The stock’s current price level is 53.64% above of average price target set by the analysts, while a rise to estimated low would result in gain of 26.17% for the stock. However, touching the estimated high of $40.00 would mean a gain of 66.78% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 311,759 shares in 12 of the transactions. In 26 selling transactions, insiders dumped 1,160,335 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and SPDR S&P Biotech ETF are the top 3 mutual funds which are holding stakes in BridgeBio Pharma Inc. Vanguard Total Stock Market ETF is currently holding 3.52 million shares of worth totaling $51.07 million. The company recently came buying 59585.0 shares which brought its stake up to 2.19% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 720.0 shares, after which its hold over company’s outstanding shares shrunk to 1.83%, leaving 2.94 million shares with the mutual fund that have a worth of about $42.63 million. SPDR S&P Biotech ETF, after buying 2.31 million shares, have now control over 1.44% of the stake in the company. It holds 40425.0 shares of worth $33.52 million.
However, the stock later moved at a day high price of 13.66, or with a loss of -2.71%. Stock saw a price change of -5.61% in past 5 days and over the past one month there was a price change of -9.35%. Year-to-date (YTD), BBIO shares are showing a performance of 74.41% which increased to 81.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.74 but also hit the highest price of $19.94 during that period. The average intraday trading volume for BridgeBio Pharma Inc. shares is 3.20 million. The stock is currently trading -5.03% below its 20-day simple moving average (SMA20), while that difference is down -9.45% for SMA50 and it goes to 16.71% higher than SMA200.
The Vanguard Group, Inc. acquired 11.84 million shares of BridgeBio Pharma Inc. having value of about $171.88 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.46 million shares in the company valued at close to $19354851.63, or have control over 14.03% stake in the company. BridgeBio Pharma Inc. (NASDAQ: BBIO) currently have 152.65M outstanding shares and institutions hold larger chunk of about 98.10% of that. Holding of mutual funds in the company is about 49.05% while other institutional holders and individual stake holders have control over 54.46% and 19.45% of the stake respectively.
The stock has a current market capitalization of $2.17B and its 3Y-monthly beta is at 0.71. It has posted earnings per share of -$2.83 in the same period. It has Quick Ratio of 5.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BBIO, volatility over the week remained 4.98% while standing at 5.97% over the month.
Analysts are in expectations that BridgeBio Pharma Inc. (BBIO) stock would likely to be making an EPS of -$0.82 in the current quarter, while forecast for next quarter EPS is -$0.77 and it is -$2.64 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.94 which is -$0.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.30% while it is estimated to increase by 17.90% in next year.
Analysts at 11 brokerage firms have issued recommendations for the BridgeBio Pharma Inc. (BBIO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 11 Wall Street analysts, 10 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
