BridgeBio Pharma, Inc. (NASDAQ:BBIO) Holdings Reduced by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust cut its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 724,872 shares of the company's stock after selling 26,483 shares during the quarter. BridgeBio Pharma accounts for 1.2% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 27th largest position. Emerald Mutual Fund Advisers Trust owned about 0.38% of BridgeBio Pharma worth $19,890,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after buying an additional 879,059 shares during the last quarter. Capital Research Global Investors lifted its position in BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in BridgeBio Pharma by 23.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock valued at $51,746,000 after purchasing an additional 353,570 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of BridgeBio Pharma by 3.4% during the fourth quarter. Northern Trust Corp now owns 1,323,258 shares of the company's stock valued at $36,310,000 after acquiring an additional 43,955 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of BridgeBio Pharma by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after acquiring an additional 21,963 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BBIO. HC Wainwright boosted their price target 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. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Redburn Atlantic started coverage on BridgeBio Pharma in a report on Monday, March 31st. They set a "buy" rating and a $50.00 price target for the company. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Finally, Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 31,543 shares of BridgeBio Pharma stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total value 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 $7,651,488.52. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,374,807 shares of company stock worth $315,534,819 in the last ninety days. 24.66% of the stock is owned by insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $35.89 on Tuesday. The firm has a fifty day moving average price of $33.91 and a 200-day moving average price of $30.57. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The stock has a market cap of $6.81 billion, a PE ratio of -12.59 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued 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 company had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

BridgeBio Pharma Company 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.

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