Emerald Advisers LLC Acquires 47,360 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Emerald Advisers LLC boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,150,868 shares of the company's stock after purchasing an additional 47,360 shares during the quarter. BridgeBio Pharma comprises 1.2% of Emerald Advisers LLC's portfolio, making the stock its 25th largest holding. Emerald Advisers LLC owned approximately 0.61% of BridgeBio Pharma worth $31,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after buying an additional 879,059 shares during the period. Janus Henderson Group PLC boosted its holdings in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock valued at $122,658,000 after acquiring an additional 505,481 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $3,497,000. Massachusetts Financial Services Co. MA grew its position in shares of BridgeBio Pharma by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 737,367 shares of the company's stock valued at $18,773,000 after purchasing an additional 139,104 shares during the last quarter. Finally, Exome Asset Management LLC increased its stake in shares of BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock worth $5,372,000 after purchasing an additional 132,093 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

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Insider Activity at BridgeBio Pharma

In other news, 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 sale, the insider now owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company's stock, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,654,739 shares of company stock valued at $325,937,151 in the last 90 days. 24.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday. Scotiabank boosted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Evercore ISI boosted their price objective 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. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.90.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $0.30 during midday trading on Thursday, reaching $36.40. 1,705,922 shares of the company's stock were exchanged, compared to its average volume of 2,144,362. The company's 50 day simple moving average is $34.24 and its two-hundred day simple moving average is $29.26. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47. The firm has a market capitalization of $6.92 billion, a PE ratio of -12.77 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current 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.