Charles Schwab Investment Management Inc. Buys 21,963 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Charles Schwab Investment Management Inc. boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,306,765 shares of the company's stock after buying an additional 21,963 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of BridgeBio Pharma worth $35,858,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BBIO. Polar Asset Management Partners Inc. purchased a new stake in shares of BridgeBio Pharma in the third quarter valued at $1,286,000. First Turn Management LLC bought a new position in BridgeBio Pharma during the 3rd quarter valued at $10,178,000. Janus Henderson Group PLC lifted its stake 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 worth $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Intech Investment Management LLC acquired a new position in BridgeBio Pharma in the third quarter worth $1,136,000. Finally, Principal Financial Group Inc. grew its position 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 valued at $29,155,000 after buying an additional 19,978 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value 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. This represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,579,739 shares of company stock valued at $323,171,901 over the last three months. 24.66% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on BBIO. HC Wainwright reissued a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Evercore ISI lifted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Monday, December 23rd. Scotiabank increased 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 report on Friday, February 21st. Citigroup raised their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.55.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $0.72 during midday trading on Wednesday, hitting $32.91. The company's stock had a trading volume of 168,905 shares, compared to its average volume of 2,103,539. The stock's 50 day simple moving average is $33.79 and its 200 day simple moving average is $28.97. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -11.54 and a beta of 1.07. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly 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 business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current 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.