KLP Kapitalforvaltning AS Buys New Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

KLP Kapitalforvaltning AS acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,235 shares of the company's stock, valued at approximately $692,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock valued at $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of BridgeBio Pharma during the third quarter worth approximately $3,497,000. Exome Asset Management LLC raised its stake 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 acquiring an additional 132,093 shares during the last quarter. Barclays PLC raised its stake in shares of BridgeBio Pharma by 31.9% in the third quarter. Barclays PLC now owns 545,008 shares of the company's stock valued at $13,876,000 after acquiring an additional 131,743 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its stake in BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company's stock worth $95,741,000 after purchasing an additional 127,853 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In other news, 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 transaction 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. This trade represents a 5.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $408,600. This trade represents a 71.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,684,739 shares of company stock valued at $326,958,651 in the last 90 days. 24.66% of the stock is currently owned by company insiders.

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BridgeBio Pharma Stock Performance

NASDAQ BBIO traded down $2.70 during trading hours on Friday, reaching $31.37. 4,015,230 shares of the company's stock were exchanged, compared to its average volume of 2,222,608. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -11.01 and a beta of 1.08. The company's 50-day moving average is $34.01 and its two-hundred day moving average is $29.54. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47.

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 (EPS) 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 the consensus estimate of $4.04 million. Research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BBIO. JPMorgan Chase & Co. upped their target price 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. Scotiabank lifted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Friday, February 21st. 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 initiated coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $52.64.

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.