Emerald Mutual Fund Advisers Trust Lowers Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Emerald Mutual Fund Advisers Trust decreased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 724,872 shares of the company's stock after selling 26,483 shares during the quarter. BridgeBio Pharma makes up 1.2% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 27th biggest position. Emerald Mutual Fund Advisers Trust owned about 0.38% of BridgeBio Pharma worth $19,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its holdings in BridgeBio Pharma by 3.4% in the 4th quarter. Northern Trust Corp now owns 1,323,258 shares of the company's stock worth $36,310,000 after buying an additional 43,955 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of BridgeBio Pharma by 23.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock worth $51,746,000 after acquiring an additional 353,570 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $6,531,000. Virtus ETF Advisers LLC raised its stake in BridgeBio Pharma by 11.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 12,637 shares of the company's stock valued at $347,000 after purchasing an additional 1,280 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in BridgeBio Pharma by 92.4% in the 4th quarter. Nebula Research & Development LLC now owns 36,239 shares of the company's stock valued at $994,000 after purchasing an additional 17,400 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBIO. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. UBS Group increased their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 24th. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 target price for the company. Finally, 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 research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average price target of $57.09.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $34.11, for a total transaction of $2,558,250.00. Following the transaction, the chief executive officer now owns 4,873,447 shares of the company's stock, valued at approximately $166,233,277.17. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the firm'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 transaction, the chief financial officer now owns 102,464 shares of the company's stock, valued at $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,309,191 shares of company stock worth $208,544,821 over the last ninety days. Company insiders own 24.66% of the company's stock.

BridgeBio Pharma Trading Up 0.4 %

NASDAQ BBIO traded up $0.17 during trading hours on Friday, reaching $38.57. The company had a trading volume of 3,168,027 shares, compared to its average volume of 2,352,389. The stock has a market capitalization of $7.32 billion, a P/E ratio of -13.53 and a beta of 1.15. The stock has a 50-day moving average of $34.06 and a 200 day moving average of $30.91. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. During the same period in the previous year, the business posted ($0.20) EPS. The business's revenue for the quarter was down 44.8% on a year-over-year basis. As a group, sell-side analysts predict 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.