Charles Schwab Investment Management Inc. Boosts Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Charles Schwab Investment Management Inc. raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,284,802 shares of the company's stock after purchasing an additional 95,605 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of BridgeBio Pharma worth $32,711,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Turn Management LLC acquired a new position in shares of BridgeBio Pharma during the third quarter worth $10,178,000. Intech Investment Management LLC purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at $1,136,000. Jennison Associates LLC purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at $767,000. Comerica Bank grew its holdings in shares of BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company's stock valued at $1,191,000 after buying an additional 37,277 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company's stock valued at $92,014,000 after buying an additional 217,000 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BBIO shares. Piper Sandler started coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 price target on the stock. Scotiabank upped their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a report on Monday, November 25th. JPMorgan Chase & Co. lowered their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. HC Wainwright upped their price target on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Oppenheimer began coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.43.

BridgeBio Pharma Stock Performance

Shares of BBIO traded up $0.52 during mid-day trading on Wednesday, hitting $27.10. 1,652,869 shares of the company were exchanged, compared to its average volume of 1,916,031. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The company has a 50 day moving average of $25.08 and a 200-day moving average of $26.11. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of -11.03 and a beta of 1.08.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company's stock, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,545 shares of company stock worth $150,056,923 in the last 90 days. Insiders own 24.66% of the company's stock.

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.