BridgeBio Pharma, Inc. (NASDAQ:BBIO) Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,077,915 shares of the company’s stock after purchasing an additional 879,059 shares during the quarter. Vanguard Group Inc. owned approximately 7.98% of BridgeBio Pharma worth $413,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $692,000. American Century Companies Inc. raised its stake in BridgeBio Pharma by 9.6% during the 4th quarter. American Century Companies Inc. now owns 1,015,728 shares of the company’s stock valued at $27,872,000 after purchasing an additional 88,882 shares during the period. Teacher Retirement System of Texas raised its stake in BridgeBio Pharma by 28.6% during the 4th quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock valued at $994,000 after purchasing an additional 8,048 shares during the period. Kazazian Asset Management LLC acquired a new stake in shares of BridgeBio Pharma in the fourth quarter worth $371,000. Finally, Xponance Inc. grew its holdings in shares of BridgeBio Pharma by 9.1% during the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock valued at $277,000 after buying an additional 844 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BBIO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 24th. Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Evercore ISI lifted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday. They set a “buy” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.64.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $34.62 on Thursday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The company’s fifty day moving average price is $34.19 and its two-hundred day moving average price is $29.43. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of -12.15 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data 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 analyst estimates of $4.04 million. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,654,739 shares of company stock worth $325,937,151 over the last 90 days. Insiders own 24.66% of the company’s stock.

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.