Adage Capital Partners GP L.L.C. acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 270,000 shares of the company's stock, valued at approximately $7,409,000. Adage Capital Partners GP L.L.C. owned 0.14% of BridgeBio Pharma as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of BBIO. Norges Bank acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $29,237,000. Capital Research Global Investors boosted its position in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after acquiring an additional 912,439 shares during the last quarter. Vanguard Group Inc. boosted its position in BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after acquiring an additional 879,059 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BridgeBio Pharma by 22.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 991,238 shares of the company's stock worth $27,200,000 after acquiring an additional 180,773 shares during the last quarter. Finally, Exome Asset Management LLC boosted its position in BridgeBio Pharma by 167.4% during the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock worth $5,372,000 after acquiring an additional 132,093 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.
BridgeBio Pharma Stock Performance
Shares of BBIO stock opened at $35.89 on Tuesday. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -12.59 and a beta of 1.08. The company has a 50-day simple moving average of $33.91 and a 200 day simple moving average of $30.57. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $39.47.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.
Analyst Ratings Changes
A number of research firms have weighed in on BBIO. Scotiabank upped their price target on 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 began coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. HC Wainwright upped their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. 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 presently has an average rating of "Moderate Buy" and an average price target of $53.00.
Read Our Latest Research Report on BBIO
Insider Buying and Selling
In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,148 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares of the company's stock, valued at $3,705,098.24. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business'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 directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,374,807 shares of company stock valued at $315,534,819. Company insiders own 24.66% of the company's stock.
BridgeBio Pharma Profile
(
Free Report)
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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