Edgestream Partners L.P. Takes $1.54 Million Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Edgestream Partners L.P. bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,235 shares of the company's stock, valued at approximately $1,543,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Avanza Fonder AB acquired a new position in BridgeBio Pharma in the fourth quarter valued at $181,000. First Bank & Trust acquired a new position in BridgeBio Pharma in the fourth quarter valued at $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new position in BridgeBio Pharma in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 8,500 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total value of $282,115.00. Following the completion of the transaction, the chief financial officer now directly owns 102,464 shares of the company's stock, valued at approximately $3,400,780.16. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 9,579,739 shares of company stock valued at $323,171,901. Corporate insiders own 24.66% of the company's stock.

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BridgeBio Pharma Stock Up 2.0 %

NASDAQ BBIO traded up $0.66 during trading hours on Friday, hitting $32.97. 1,577,570 shares of the stock were exchanged, compared to its average volume of 3,185,721. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -11.57 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47. The stock has a 50-day moving average of $33.53 and a 200 day moving average of $28.77.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Bank of America upped their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Scotiabank upped their price objective 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. Evercore ISI upped their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Finally, Citigroup upped their target price 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.55.

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.