By otakuyassine3@gmail.com 
American Century Companies Inc. grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,015,728 shares of the company’s stock after purchasing an additional 88,882 shares during the period. American Century Companies Inc. owned approximately 0.54% of BridgeBio Pharma worth $27,872,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after acquiring an additional 127,853 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after acquiring an additional 123,540 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company’s stock worth $35,858,000 after acquiring an additional 21,963 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after purchasing an additional 19,978 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank boosted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.
View Our Latest Stock Analysis on BBIO
BridgeBio Pharma Stock Performance
Shares of BBIO opened at $35.11 on Friday. The stock has a market capitalization of $6.68 billion, a PE ratio of -12.32 and a beta of 1.07. The company has a 50 day moving average price of $34.26 and a 200-day moving average price of $29.28. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total value of $2,765,250.00. Following the completion of the sale, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at $182,449,240.89. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,654,739 shares of company stock worth $325,937,151. 24.66% of the stock is owned by corporate insiders.
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.
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