BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 991,238 shares of the company's stock after buying an additional 180,773 shares during the period. Price T Rowe Associates Inc. MD owned 0.52% of BridgeBio Pharma worth $27,200,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock valued at $29,155,000 after acquiring an additional 19,978 shares in the last quarter. Capital Research Global Investors grew its position in shares of BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of BridgeBio Pharma by 28.6% during the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company's stock worth $994,000 after buying an additional 8,048 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 879,059 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of BridgeBio Pharma by 2.8% during the 4th quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after acquiring an additional 3,706 shares during the period. 99.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased 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. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Redburn Atlantic started coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price objective on the stock. Finally, UBS Group lifted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.09.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the transaction, the chief executive officer now directly owns 4,948,447 shares of the company's stock, valued at approximately $182,449,240.89. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 4,148 shares of BridgeBio Pharma 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. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,309,191 shares of company stock worth $208,544,821 over the last quarter. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded down $0.75 during trading on Tuesday, reaching $37.47. 455,119 shares of the stock traded hands, compared to its average volume of 2,344,273. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -13.20 and a beta of 1.15. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54. The business has a fifty day simple moving average of $34.15 and a two-hundred day simple moving average of $31.00.

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