AQR Capital Management LLC Grows Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

AQR Capital Management LLC grew its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,573 shares of the company's stock after purchasing an additional 27,610 shares during the period. AQR Capital Management LLC owned approximately 0.12% of BridgeBio Pharma worth $6,135,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BBIO. Steward Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares during the period. Sterling Capital Management LLC boosted its holdings in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares during the last quarter. Avanza Fonder AB purchased a new stake in BridgeBio Pharma during the 4th quarter valued at $181,000. First Bank & Trust bought a new position in BridgeBio Pharma in the fourth quarter valued at about $205,000. Finally, Moss Adams Wealth Advisors LLC purchased a new position in BridgeBio Pharma in the fourth quarter worth about $208,000. 99.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BBIO. Citigroup increased their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Piper Sandler lifted their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Finally, HC Wainwright boosted their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $57.09.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrew Lo sold 100,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the completion of the transaction, the director now owns 105,583 shares in the company, valued at $4,064,945.50. This trade represents a 48.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares in the company, valued at approximately $5,685,577.89. This trade represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,410,217 shares of company stock worth $212,434,332. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Down 2.0 %

NASDAQ BBIO traded down $0.68 during trading hours 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. The firm's 50-day moving average price is $34.27 and its 200-day moving average price is $31.25. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.54. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of -11.99 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analysts' expectations of $57.14 million. The firm's revenue for the quarter was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal 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.