Teacher Retirement System of Texas Has $994,000 Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Teacher Retirement System of Texas boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 28.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,208 shares of the company's stock after purchasing an additional 8,048 shares during the period. Teacher Retirement System of Texas' holdings in BridgeBio Pharma were worth $994,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised 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 acquiring an additional 472 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after purchasing an additional 1,645 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $181,000. First Bank & Trust acquired a new position in BridgeBio Pharma in the fourth quarter worth approximately $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new position in BridgeBio Pharma during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Scotiabank increased their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday. They issued a "buy" rating and a $50.00 price target for the company. 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. 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 eleven have issued a buy rating to the company. According to MarketBeat, BridgeBio Pharma has a consensus rating of "Moderate Buy" and an average target price of $52.64.

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Insider Buying and Selling

In other news, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the sale, the chief executive officer now owns 4,948,447 shares of the company's stock, valued at approximately $182,449,240.89. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,654,739 shares of company stock valued at $325,937,151 over the last three months. 24.66% of the stock is owned by corporate insiders.

BridgeBio Pharma Stock Performance

Shares of BBIO traded down $1.10 during mid-day trading on Tuesday, hitting $33.47. The company's stock had a trading volume of 1,301,681 shares, compared to its average volume of 3,019,262. The stock's 50-day moving average is $34.28 and its two-hundred day moving average is $29.35. The firm has a market capitalization of $6.37 billion, a PE ratio of -11.74 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 issued its quarterly 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 business had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS 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.