Alyeska Investment Group L.P. Takes Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Alyeska Investment Group L.P. purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 940,415 shares of the company's stock, valued at approximately $25,805,000. Alyeska Investment Group L.P. owned about 0.50% of BridgeBio Pharma at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $41,000. Comerica Bank raised its holdings in BridgeBio Pharma by 131.4% during the fourth quarter. Comerica Bank now owns 106,116 shares of the company's stock worth $2,912,000 after purchasing an additional 60,256 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of BridgeBio Pharma by 14.1% during the 4th quarter. AQR Capital Management LLC now owns 223,573 shares of the company's stock worth $6,135,000 after buying an additional 27,610 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of BridgeBio Pharma by 3.4% in the 4th quarter. Northern Trust Corp now owns 1,323,258 shares of the company's stock valued at $36,310,000 after buying an additional 43,955 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of BridgeBio Pharma by 23.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock valued at $51,746,000 after buying an additional 353,570 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 31,543 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the completion of the transaction, the chief executive officer now owns 211,718 shares of the company's stock, valued at approximately $7,651,488.52. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,410,217 shares of company stock worth $212,434,332 over the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BBIO. JPMorgan Chase & Co. upped their price objective 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. UBS Group upped their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. 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 on the stock. Scotiabank increased their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, HC Wainwright lifted their target price on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock traded down $0.68 during midday trading on Friday, reaching $34.17. The company's stock had a trading volume of 1,787,926 shares, compared to its average volume of 2,401,418. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54. The firm has a market capitalization of $6.49 billion, a PE ratio of -11.99 and a beta of 1.15. The stock's 50 day simple moving average is $34.27 and its 200 day simple moving average is $31.25.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. BridgeBio Pharma's revenue was down 44.8% on a year-over-year basis. Equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.