BridgeBio Pharma, Inc. (NASDAQ:BBIO) is Fernwood Investment Management LLC's 8th Largest Position

Fernwood Investment Management LLC lifted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 278,330 shares of the company's stock after buying an additional 16,595 shares during the period. BridgeBio Pharma makes up approximately 2.7% of Fernwood Investment Management LLC's portfolio, making the stock its 8th biggest holding. Fernwood Investment Management LLC owned 0.15% of BridgeBio Pharma worth $7,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 85.8% in 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. Avanza Fonder AB bought a new stake in BridgeBio Pharma during the 4th quarter valued at $181,000. First Bank & Trust bought a new position in shares of BridgeBio Pharma in the fourth quarter worth $205,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of BridgeBio Pharma in the fourth quarter valued at $208,000. Finally, Legato Capital Management LLC bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $210,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the sale, the insider now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 93,758 shares of the company's stock, valued at $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,684,739 shares of company stock worth $326,958,651 in the last three months. Corporate insiders own 24.66% of the company's stock.

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BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO remained flat at $33.91 during trading on Monday. 397,982 shares of the stock were exchanged, compared to its average volume of 2,262,106. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market capitalization of $6.45 billion, a PE ratio of -11.90 and a beta of 1.08. The firm's 50-day moving average price is $33.59 and its 200-day moving average price is $29.83.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $4.04 million. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

BBIO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Evercore ISI upped their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Citigroup increased 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. Finally, Scotiabank boosted their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.64.

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.