Intech Investment Management LLC Grows Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Intech Investment Management LLC boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 47.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,647 shares of the company's stock after buying an additional 21,024 shares during the quarter. Intech Investment Management LLC's holdings in BridgeBio Pharma were worth $1,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its holdings in shares of BridgeBio Pharma by 1.1% during the third quarter. Swiss National Bank now owns 219,300 shares of the company's stock valued at $5,583,000 after acquiring an additional 2,400 shares during the last quarter. Quest Partners LLC raised its stake in BridgeBio Pharma by 134.0% in the 3rd quarter. Quest Partners LLC now owns 31,173 shares of the company's stock valued at $794,000 after purchasing an additional 17,849 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in BridgeBio Pharma in the 3rd quarter valued at $932,000. Jennison Associates LLC purchased a new position in BridgeBio Pharma in the 3rd quarter valued at $767,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of BridgeBio Pharma in the third quarter worth about $309,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBIO. JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday. Citigroup increased their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America upped their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.90.

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Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares of the company's stock, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,579,739 shares of company stock worth $323,171,901. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded down $0.48 during mid-day trading on Tuesday, reaching $36.74. 3,293,014 shares of the company's stock were exchanged, compared to its average volume of 2,136,198. The company's 50-day moving average is $34.15 and its 200-day moving average is $29.12. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -12.89 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced 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 business had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

BridgeBio Pharma Company 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.