Raymond James Financial Inc. Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Raymond James Financial Inc. purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,631 shares of the company's stock, valued at approximately $456,000.

Several other institutional investors have also added to or reduced their stakes in BBIO. Arizona State Retirement System increased its stake in BridgeBio Pharma by 9.7% in the 4th quarter. Arizona State Retirement System now owns 35,470 shares of the company's stock worth $973,000 after purchasing an additional 3,141 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of BridgeBio Pharma by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after acquiring an additional 21,963 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares during the period. HealthInvest Partners AB grew its stake in shares of BridgeBio Pharma by 92.8% in the fourth quarter. HealthInvest Partners AB now owns 103,032 shares of the company's stock worth $2,815,000 after purchasing an additional 49,600 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in BridgeBio Pharma by 95.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 25,980 shares of the company's stock valued at $713,000 after purchasing an additional 12,701 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the sale, the chief executive officer now directly owns 4,948,447 shares in the company, valued at $182,449,240.89. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total value of $1,021,500.00. Following the sale, the director now directly owns 12,000 shares of the company's stock, valued at $408,600. This represents a 71.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,684,739 shares of company stock worth $326,958,651. Insiders own 24.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 target price on the stock. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Monday, December 23rd. Finally, Citigroup upped their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.64.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded up $1.60 during trading on Friday, hitting $33.91. The company had a trading volume of 2,149,631 shares, compared to its average volume of 2,269,440. The stock has a 50 day simple moving average of $33.59 and a 200 day simple moving average of $29.83. The firm has a market capitalization of $6.45 billion, a P/E ratio of -11.90 and a beta of 1.08. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, 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.