Lionsbridge takes $704K stake in BridgeBio Pharma as analysts turn bullish
What's the deal? Lionsbridge Wealth Management LLCDealroom has a profile for this one. Try Dealroom → bought a new position in BridgeBio PharmaDealroom has a profile for this one. Try Dealroom → (NASDAQ:BBIO) during the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,453 shares worth about $704,000.
Who else is buying? Several other institutions moved on BBIO in the same period. Silvant Capital Management LLCDealroom has a profile for this one. Try Dealroom → opened a $28,000 position, while Allworth Financial LPDealroom has a profile for this one. Try Dealroom → took a stake worth about $31,000. Institutional investors now own 99.85% of the company's stock.
What Wall Street thinks: Analysts have grown more positive. Piper SandlerDealroom has a profile for this one. Try Dealroom → lifted its price objective to $115 with an "overweight" rating, Truist FinancialDealroom has a profile for this one. Try Dealroom → raised its target to $107 with a "buy," and HC WainwrightDealroom has a profile for this one. Try Dealroom → moved to $120, also a "buy."
Twenty analysts rate the stock a buy, two a hold, and one a sell, for an average "Moderate Buy" rating and a target price of $101.53, according to MarketBeat.com. Not all views aligned: Raymond James FinancialDealroom has a profile for this one. Try Dealroom → downgraded BBIO from "outperform" to "market perform" in May.
Insiders cashing out: Company directors sold as institutions bought. Director Jennifer E. Cook sold 148,589 shares on July 9 at an average of $88.54, a $13.2 million transaction that cut her holding by 94.66%. Director Andrea Ellis sold 17,167 shares the same day for about $1.4 million. Both sales ran under pre-arranged Rule 10b5-1 trading plans.
The signal: The split between rising institutional interest and heavy insider selling leaves a mixed picture for BridgeBio. Bullish analyst targets suggest confidence in the pipeline, but the scale of director exits is a counterweight investors will watch.
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