BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 95.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,980 shares of the company's stock after buying an additional 12,701 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in BridgeBio Pharma were worth $713,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Bank & Trust acquired a new position in BridgeBio Pharma during the fourth quarter valued at approximately $205,000. Handelsbanken Fonder AB grew its holdings in BridgeBio Pharma by 16.6% in the fourth quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company's stock worth $1,041,000 after purchasing an additional 5,400 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of BridgeBio Pharma by 21.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company's stock valued at $2,556,000 after acquiring an additional 16,545 shares in the last quarter. Rhumbline Advisers raised its position in shares of BridgeBio Pharma by 2.3% during the fourth quarter. Rhumbline Advisers now owns 219,120 shares of the company's stock worth $6,013,000 after purchasing an additional 5,007 shares during the period. Finally, Legato Capital Management LLC bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $210,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup increased 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. Bank of America raised their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. HC Wainwright reiterated a "buy" rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Scotiabank raised their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Friday, February 21st. Finally, Evercore ISI lifted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.67.

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Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was 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 of the company's stock, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $33.57, for a total transaction of $2,517,750.00. Following the completion of the transaction, the chief executive officer now directly owns 5,023,447 shares of the company's stock, valued at $168,637,115.79. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,579,739 shares of company stock worth $125,411,901 over the last 90 days. Company insiders own 24.66% of the company's stock.

BridgeBio Pharma Trading Up 1.6 %

NASDAQ BBIO traded up $0.53 on Tuesday, reaching $33.54. 1,702,212 shares of the stock were exchanged, compared to its average volume of 3,138,588. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The firm has a market capitalization of $6.38 billion, a PE ratio of -11.79 and a beta of 1.07. The company's 50-day simple moving average is $32.79 and its two-hundred day simple moving average is $28.40.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly 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 company had revenue of $5.88 million for the quarter, compared to analysts' expectations of $4.04 million. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

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.