BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,077,915 shares of the company's stock after purchasing an additional 879,059 shares during the quarter. Vanguard Group Inc. owned about 7.98% of BridgeBio Pharma worth $413,738,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its stake in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after buying an additional 472 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $181,000. First Bank & Trust acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $205,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $208,000. Finally, Legato Capital Management LLC acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $210,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Redburn Atlantic began coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 target price on the stock. Scotiabank lifted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Citigroup raised their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.64.

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BridgeBio Pharma Price Performance

BBIO stock traded down $0.70 during trading on Monday, hitting $30.67. 4,063,722 shares of the company traded hands, compared to its average volume of 2,229,944. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market cap of $5.83 billion, a PE ratio of -10.76 and a beta of 1.08. The stock's 50-day simple moving average is $33.89 and its 200 day simple moving average is $29.57.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. Research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,684,739 shares of company stock valued at $326,958,651. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Profile

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.