F M Investments LLC Makes New $2.67 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

F M Investments LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 97,198 shares of the company's stock, valued at approximately $2,667,000. F M Investments LLC owned approximately 0.05% of BridgeBio Pharma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBIO. Norges Bank bought a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $29,237,000. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 879,059 shares during the period. Exome Asset Management LLC lifted its holdings 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 valued at $5,372,000 after purchasing an additional 132,093 shares in the last quarter. Barclays PLC grew its stake in shares of 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 acquiring an additional 131,743 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock valued at $86,936,000 after acquiring an additional 123,540 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

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Insider Buying and Selling

In other news, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the transaction, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,684,739 shares of company stock worth $326,958,651. Company insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Down 2.1 %

Shares of BridgeBio Pharma stock traded down $0.72 on Wednesday, reaching $33.52. The stock had a trading volume of 1,378,439 shares, compared to its average volume of 2,263,386. The stock has a market capitalization of $6.38 billion, a P/E ratio of -11.76 and a beta of 1.08. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a 50 day moving average price of $33.65 and a 200 day moving average price of $29.93.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released 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 company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBIO. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price target on the stock. Cantor Fitzgerald reiterated 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. raised their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Monday, December 23rd. Finally, Scotiabank upped their price objective 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.00.

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.