Royce & Associates LP Acquires 22,833 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Royce & Associates LP boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,788 shares of the company's stock after buying an additional 22,833 shares during the quarter. Royce & Associates LP owned approximately 0.08% of BridgeBio Pharma worth $3,973,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BBIO. Steward Partners Investment Advisory LLC boosted its stake 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 buying an additional 472 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after buying an additional 1,645 shares in the last quarter. Avanza Fonder AB acquired a new stake in BridgeBio Pharma in the 4th quarter valued at $181,000. First Bank & Trust acquired a new stake in BridgeBio Pharma in the 4th quarter valued at $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in BridgeBio Pharma in the 4th quarter valued at $208,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 326,932 shares of the company's stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 9,579,739 shares of company stock worth $323,171,901. 24.66% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

BBIO has been the topic of several recent analyst reports. Scotiabank boosted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Friday, February 21st. HC Wainwright reissued a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.20.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded up $0.86 on Friday, reaching $34.77. 3,460,757 shares of the stock were exchanged, compared to its average volume of 2,127,431. The stock has a market cap of $6.61 billion, a PE ratio of -12.20 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. The stock has a 50 day moving average price of $34.08 and a 200 day moving average price of $29.09.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.