BridgeBio Pharma, Inc. (NASDAQ:BBIO) Position Increased by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 65.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,103,508 shares of the company's stock after acquiring an additional 437,164 shares during the quarter. Emerald Advisers LLC owned approximately 0.59% of BridgeBio Pharma worth $28,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Profund Advisors LLC grew its holdings in shares of BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock worth $1,293,000 after buying an additional 555 shares in the last quarter. American International Group Inc. grew its holdings in shares of BridgeBio Pharma by 1.0% during the first quarter. American International Group Inc. now owns 57,491 shares of the company's stock worth $1,778,000 after buying an additional 565 shares in the last quarter. Bfsg LLC grew its holdings in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock worth $31,000 after buying an additional 790 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock worth $135,000 after buying an additional 801 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock worth $123,000 after buying an additional 962 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

BBIO stock traded up $2.07 during midday trading on Friday, reaching $25.48. 1,979,732 shares of the company's stock traded hands, compared to its average volume of 1,506,047. The company has a market capitalization of $4.79 billion, a P/E ratio of -9.69 and a beta of 1.09. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The business has a 50-day moving average price of $26.00 and a two-hundred day moving average price of $26.41.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period last year, the firm earned ($0.98) earnings per share. The company's quarterly revenue was up 32.1% on a year-over-year basis. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBIO. HC Wainwright reiterated a "buy" rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Friday, October 25th. Scotiabank initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $44.00 price target for the company. Bank of America restated a "buy" rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Corporate insiders own 24.66% of the company's stock.

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.