Ensign Peak Advisors Inc Acquires 89,495 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Ensign Peak Advisors Inc lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,975,249 shares of the company's stock after purchasing an additional 89,495 shares during the quarter. Ensign Peak Advisors Inc owned about 1.05% of BridgeBio Pharma worth $54,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBIO. Steward Partners Investment Advisory LLC lifted its position 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 valued at $28,000 after purchasing an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in BridgeBio Pharma in the fourth quarter valued at $41,000. Sterling Capital Management LLC boosted its position in shares of BridgeBio Pharma by 554.6% during the 4th 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 in the last quarter. Avanza Fonder AB purchased a new position in BridgeBio Pharma in the fourth quarter valued at about $181,000. Finally, First Bank & Trust purchased a new stake in BridgeBio Pharma during the fourth quarter worth $205,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on BBIO shares. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 target price on the stock. HC Wainwright raised their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. UBS Group increased their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Citigroup lifted their price target 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 research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.09.

BridgeBio Pharma Trading Down 6.8%

NASDAQ BBIO traded down $2.42 during trading on Tuesday, reaching $33.26. 6,478,443 shares of the company's stock were exchanged, compared to its average volume of 2,423,245. The firm has a market capitalization of $6.32 billion, a PE ratio of -11.67 and a beta of 1.15. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54. The company's fifty day simple moving average is $34.29 and its 200-day simple moving average is $31.38.

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

Insider Activity

In other news, Director Andrea Ellis sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total value of $1,021,500.00. Following the completion of the sale, the director now owns 12,000 shares of the company's stock, valued at approximately $408,600. This represents a 71.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 31,543 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the transaction, the chief executive officer now directly owns 211,718 shares in the company, valued at $7,651,488.52. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,410,217 shares of company stock valued at $212,434,332 over the last 90 days. 24.66% of the stock is owned by company insiders.

About BridgeBio Pharma

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.