Intech Investment Management LLC Increases Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Intech Investment Management LLC lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 47.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,647 shares of the company’s stock after purchasing an additional 21,024 shares during the quarter. Intech Investment Management LLC’s holdings in BridgeBio Pharma were worth $1,801,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased 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 during the period. Advisors Asset Management Inc. boosted its holdings in shares of BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth about $181,000. First Bank & Trust purchased a new position in BridgeBio Pharma during the fourth quarter worth about $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in BridgeBio Pharma in the fourth quarter valued at about $208,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma 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 transaction of $197,760,000.00. Following the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock valued at $323,171,901 over the last three months. 24.66% of the stock is currently owned by insiders.

BridgeBio Pharma Trading Up 0.5 %

NASDAQ:BBIO opened at $33.91 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47. The company has a market capitalization of $6.45 billion, a P/E ratio of -11.90 and a beta of 1.07. The firm has a 50-day moving average price of $33.96 and a two-hundred day moving average price of $29.03.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.