NEOS Investment Management LLC Buys 29,896 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

NEOS Investment Management LLC boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 26.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,972 shares of the company's stock after purchasing an additional 29,896 shares during the quarter. NEOS Investment Management LLC owned approximately 0.08% of BridgeBio Pharma worth $3,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in BridgeBio Pharma by 1.1% in the 3rd quarter. Swiss National Bank now owns 219,300 shares of the company's stock valued at $5,583,000 after purchasing an additional 2,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of BridgeBio Pharma during the third quarter worth approximately $309,000. Advisors Asset Management Inc. grew its holdings in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after buying an additional 1,645 shares in the last quarter. Intech Investment Management LLC acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at approximately $1,136,000. Finally, Charles Schwab Investment Management Inc. raised its stake in BridgeBio Pharma by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company's stock valued at $32,711,000 after acquiring an additional 95,605 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business'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 transaction, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,654,739 shares of company stock valued at $325,937,151. 24.66% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Trading Down 0.5 %

NASDAQ:BBIO traded down $0.16 during mid-day trading on Monday, hitting $34.95. 1,265,688 shares of the company's stock traded hands, compared to its average volume of 2,191,359. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of -12.26 and a beta of 1.07. The firm has a 50 day moving average of $34.26 and a two-hundred day moving average of $29.29. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued 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 analyst estimates of $4.04 million. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBIO shares. Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research report on Monday. They issued a "buy" rating and a $50.00 target price for the company. 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 report on Monday, March 24th. HC Wainwright restated a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Finally, Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and a consensus price target of $52.64.

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.