Norges Bank Purchases Shares of 1,065,479 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Norges Bank bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,065,479 shares of the company's stock, valued at approximately $29,237,000. Norges Bank owned approximately 0.56% of BridgeBio Pharma as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $181,000. First Bank & Trust acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $205,000. Moss Adams Wealth Advisors LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at approximately $208,000. Finally, Legato Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Citigroup raised their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Finally, Redburn Atlantic assumed coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $52.64.

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Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now owns 5,371,515 shares of the company's stock, valued at $194,932,279.35. This represents a 5.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company's stock, valued at approximately $408,600. This represents a 71.43 % decrease in their position. 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 ninety days. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Performance

BBIO stock traded up $1.60 on Friday, reaching $33.91. The company had a trading volume of 2,149,631 shares, compared to its average volume of 2,267,922. The company's fifty day moving average is $33.59 and its 200 day moving average is $29.79. The company has a market cap of $6.45 billion, a P/E ratio of -11.90 and a beta of 1.08. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.