Susquehanna Fundamental Investments LLC Makes New $6.53 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 237,995 shares of the company's stock, valued at approximately $6,531,000. Susquehanna Fundamental Investments LLC owned approximately 0.13% of BridgeBio Pharma as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BBIO. Norges Bank purchased a new position in BridgeBio Pharma during the 4th quarter valued at approximately $29,237,000. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. Vanguard Group Inc. increased its position in BridgeBio Pharma by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $7,409,000. Finally, Price T Rowe Associates Inc. MD lifted its position in BridgeBio Pharma by 22.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 991,238 shares of the company's stock valued at $27,200,000 after purchasing an additional 180,773 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Scotiabank raised their price objective 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. Redburn Atlantic assumed coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. Citigroup raised their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma 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 stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average price target of $53.00.

BridgeBio Pharma Trading Up 1.0 %

Shares of BBIO opened at $36.31 on Monday. The firm has a market capitalization of $6.89 billion, a P/E ratio of -12.74 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. The firm has a fifty day moving average price of $33.92 and a 200-day moving average price of $30.50.

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

Insiders Place Their Bets

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 9,769,739 shares of company stock worth $329,866,901 in the last ninety days. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Company 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.

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