Franklin Resources Inc. Has $236,000 Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Franklin Resources Inc. trimmed its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 99.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,598 shares of the company's stock after selling 2,296,302 shares during the period. Franklin Resources Inc.'s holdings in BridgeBio Pharma were worth $236,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BBIO. Barclays PLC boosted its position in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company's stock worth $13,876,000 after purchasing an additional 131,743 shares during the period. Geode Capital Management LLC increased its stake in shares of BridgeBio Pharma by 3.8% in the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock worth $86,936,000 after buying an additional 123,540 shares during the last quarter. Exome Asset Management LLC raised its holdings in BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock valued at $5,372,000 after acquiring an additional 132,093 shares in the last quarter. Principal Financial Group Inc. boosted its stake in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock valued at $29,155,000 after acquiring an additional 19,978 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in BridgeBio Pharma during the 4th quarter worth $181,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,148 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the sale, the chief financial officer now owns 102,464 shares in the company, valued at $3,705,098.24. The trade was a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $35.00, for a total transaction of $350,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $420,000. The trade was a 45.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,694,739 shares of company stock worth $327,308,651. Insiders own 24.66% of the company's stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of several research analyst reports. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. HC Wainwright lifted their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank boosted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. One equities 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 a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

BridgeBio Pharma Stock Up 3.5 %

BridgeBio Pharma stock traded up $1.18 during mid-day trading on Wednesday, hitting $35.36. 1,785,139 shares of the company's stock traded hands, compared to its average volume of 2,264,781. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The firm has a 50 day moving average price of $33.87 and a 200 day moving average price of $30.22. The company has a market cap of $6.73 billion, a PE ratio of -12.41 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analysts' expectations of $4.04 million. On average, analysts expect 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.