Legato Capital Management LLC Acquires Shares of 7,670 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Legato Capital Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,670 shares of the company's stock, valued at approximately $210,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in BridgeBio Pharma by 11.7% during the third 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 in the last quarter. Emerald Advisers LLC lifted its holdings in BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company's stock valued at $28,095,000 after purchasing an additional 437,164 shares in the last quarter. First Turn Management LLC purchased a new position in shares of BridgeBio Pharma in the third quarter worth about $10,178,000. Emerald Mutual Fund Advisers Trust lifted its stake in shares of BridgeBio Pharma by 50.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company's stock worth $19,129,000 after buying an additional 253,101 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of BridgeBio Pharma in the third quarter worth about $3,497,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 0.4 %

Shares of BridgeBio Pharma stock traded up $0.14 during trading on Tuesday, reaching $35.04. The company's stock had a trading volume of 1,545,674 shares, compared to its average volume of 2,681,114. The company has a 50-day moving average price of $31.25 and a two-hundred day moving average price of $27.66. The firm has a market cap of $6.62 billion, a PE ratio of -14.56 and a beta of 1.07. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $37.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BBIO shares. HC Wainwright reissued a "buy" rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Scotiabank raised their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. Finally, Bank of America raised their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average target price of $49.08.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,460,548 shares of company stock valued at $121,322,081 in the last ninety days. 24.66% of the stock is currently owned by company insiders.

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.