Primecap Management Co. CA Acquires 8,776 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Primecap Management Co. CA lifted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 915,500 shares of the company's stock after acquiring an additional 8,776 shares during the quarter. Primecap Management Co. CA owned 0.48% of BridgeBio Pharma worth $25,121,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BBIO. Ironwood Investment Management LLC grew its position in shares of BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock valued at $1,733,000 after acquiring an additional 338 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in BridgeBio Pharma by 85.8% in the fourth 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 during the last quarter. Tocqueville Asset Management L.P. grew its holdings in BridgeBio Pharma by 7.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock valued at $521,000 after purchasing an additional 1,275 shares during the period. Advisors Asset Management Inc. increased its position in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after buying an additional 1,645 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in shares of BridgeBio Pharma by 13.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,785 shares of the company's stock valued at $488,000 after buying an additional 2,151 shares during the period. 99.85% of the stock is currently owned by institutional investors.

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Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the firm'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 sale, the chief executive officer now 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 at the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 22,055,375 shares of the company's stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,579,739 shares of company stock worth $323,171,901. 24.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on BBIO. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. HC Wainwright reiterated a "buy" rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Citigroup boosted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Scotiabank lifted 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 note on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of "Moderate Buy" and a consensus price target of $52.90.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock traded up $2.45 during mid-day trading on Monday, hitting $37.22. 4,338,810 shares of the company traded hands, compared to its average volume of 2,136,276. The stock has a fifty day moving average price of $34.08 and a 200-day moving average price of $29.07. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -13.06 and a beta of 1.07. 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 announced its earnings results 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 company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. Sell-side 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.