BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Capital Research Global Investors

Capital Research Global Investors boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,526,747 shares of the company's stock after acquiring an additional 912,439 shares during the period. Capital Research Global Investors owned 1.87% of BridgeBio Pharma worth $96,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BBIO. Principal Financial Group Inc. grew its holdings in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock worth $29,155,000 after purchasing an additional 19,978 shares during the period. Teacher Retirement System of Texas lifted its position in BridgeBio Pharma by 28.6% in the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company's stock valued at $994,000 after buying an additional 8,048 shares during the last quarter. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 6.2% during the fourth 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. Legal & General Group Plc increased its position in shares of BridgeBio Pharma by 2.8% during the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after acquiring an additional 3,706 shares during the last quarter. Finally, Exome Asset Management LLC raised its stake in shares of BridgeBio Pharma by 167.4% in the 3rd 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 during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm's 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 of the company's stock, valued at $769,732,587.50. This trade represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,769,739 shares of company stock valued at $329,866,901. 24.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BBIO. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. HC Wainwright increased their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a report on Friday, February 21st. Finally, Redburn Atlantic began coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.00.

BridgeBio Pharma Trading Up 1.0 %

BBIO stock traded up $0.35 during trading on Friday, hitting $36.31. 1,285,917 shares of the company's stock were exchanged, compared to its average volume of 2,270,886. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of -12.74 and a beta of 1.08. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47. The business has a 50-day moving average price of $33.90 and a two-hundred day moving average price of $30.34.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

BridgeBio Pharma 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.