Teacher Retirement System of Texas Has $994,000 Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Teacher Retirement System of Texas raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,208 shares of the company’s stock after purchasing an additional 8,048 shares during the period. Teacher Retirement System of Texas’ holdings in BridgeBio Pharma were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BBIO. Ironwood Investment Management LLC lifted its holdings in BridgeBio Pharma by 0.5% in the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after buying an additional 338 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Xponance Inc. lifted its stake in shares of BridgeBio Pharma by 9.1% in the 4th quarter. Xponance Inc. now owns 10,089 shares of the company’s stock valued at $277,000 after purchasing an additional 844 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of BridgeBio Pharma by 7.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company’s stock worth $521,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the period. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 3.5 %

BBIO opened at $35.11 on Friday. The stock has a market capitalization of $6.68 billion, a P/E ratio of -12.32 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47. The firm’s fifty day simple moving average is $34.26 and its 200 day simple moving average is $29.28.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank increased their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the completion of the transaction, the chief executive officer now owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. This trade represents a 1.49 % 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 hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,654,739 shares of company stock valued at $325,937,151. 24.66% of the stock is owned by insiders.

About BridgeBio Pharma

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.