Wealthfront Advisers LLC Invests $592,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Wealthfront Advisers LLC purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,578 shares of the company's stock, valued at approximately $592,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BridgeBio Pharma by 25.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,530 shares of the company's stock worth $865,000 after acquiring an additional 6,466 shares in the last quarter. Edgestream Partners L.P. acquired a new position in BridgeBio Pharma during the 4th quarter worth $1,543,000. E Fund Management Co. Ltd. lifted its holdings in BridgeBio Pharma by 13.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,785 shares of the company's stock worth $488,000 after buying an additional 2,151 shares in the last quarter. Raymond James Financial Inc. acquired a new position in BridgeBio Pharma during the 4th quarter worth $456,000. Finally, Arizona State Retirement System lifted its holdings in BridgeBio Pharma by 9.7% during the 4th quarter. Arizona State Retirement System now owns 35,470 shares of the company's stock worth $973,000 after buying an additional 3,141 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BBIO has been the subject of several recent research reports. Citigroup upped their target price 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. HC Wainwright restated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank increased their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Friday, February 21st. Finally, Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.55.

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BridgeBio Pharma Trading Up 0.5 %

Shares of BridgeBio Pharma stock traded up $0.16 during trading hours on Thursday, reaching $33.91. 2,333,243 shares of the company's stock were exchanged, compared to its average volume of 2,112,620. The company has a 50 day moving average of $33.87 and a two-hundred day moving average of $29.00. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The stock has a market cap of $6.45 billion, a P/E ratio of -11.90 and a beta of 1.07.

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

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm'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 completion of the sale, the insider now owns 22,055,375 shares of the company's stock, valued at $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. Insiders sold a total of 9,579,739 shares of company stock worth $323,171,901 in the last three months. Insiders own 24.66% of the company's stock.

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.