Gabelli Funds LLC Buys Shares of 73,500 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Gabelli Funds LLC acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,500 shares of the company's stock, valued at approximately $2,017,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after acquiring an additional 879,059 shares during the period. Geode Capital Management LLC boosted its holdings in BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock worth $86,936,000 after acquiring an additional 123,540 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of BridgeBio Pharma by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after purchasing an additional 21,963 shares in the last quarter. Emerald Advisers LLC raised its position in shares of BridgeBio Pharma by 4.3% during the 4th quarter. Emerald Advisers LLC now owns 1,150,868 shares of the company's stock valued at $31,580,000 after acquiring an additional 47,360 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in 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 buying an additional 19,978 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 target price for the company. HC Wainwright lifted their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Finally, 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 report on Friday, February 21st. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.00.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company's stock, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the firm's 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 $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 $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,694,739 shares of company stock valued at $327,308,651 in the last three months. 24.66% of the stock is owned by insiders.

BridgeBio Pharma Stock Up 1.2 %

BBIO traded up $0.42 during midday trading on Thursday, reaching $35.65. The company had a trading volume of 499,335 shares, compared to its average volume of 2,267,930. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The business has a 50-day moving average of $33.88 and a two-hundred day moving average of $30.26. The company has a market cap of $6.78 billion, a P/E ratio of -12.52 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates 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. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

About BridgeBio Pharma

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.