Sphera Funds Management LTD. Has $24.84 Million Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Sphera Funds Management LTD. grew its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 905,279 shares of the company's stock after acquiring an additional 62,635 shares during the period. BridgeBio Pharma comprises about 4.5% of Sphera Funds Management LTD.'s portfolio, making the stock its 2nd largest holding. Sphera Funds Management LTD. owned 0.48% of BridgeBio Pharma worth $24,841,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC raised its stake 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 buying an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC raised its stake in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the period. Avanza Fonder AB bought a new stake in BridgeBio Pharma in the 4th quarter valued at $181,000. Finally, First Bank & Trust acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $205,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Redburn Atlantic began coverage on BridgeBio Pharma in a report on Monday, March 31st. They set a "buy" rating and a $50.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, HC Wainwright lifted their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.09.

BridgeBio Pharma Price Performance

BBIO stock traded down $0.98 during midday trading on Wednesday, reaching $32.73. The company had a trading volume of 675,375 shares, compared to its average volume of 2,433,228. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.54. The stock has a 50 day moving average price of $34.48 and a 200-day moving average price of $31.72. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -11.49 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $57.14 million. During the same period in the prior year, the business earned ($0.20) earnings per share. BridgeBio Pharma's quarterly revenue was down 44.8% compared to the same quarter last year. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $33.40, for a total value of $2,505,000.00. Following the sale, the chief executive officer now owns 4,798,447 shares of the company's stock, valued at approximately $160,268,129.80. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,475,682 shares of company stock valued at $419,721,156 over the last three months. 18.20% of the stock is owned by insiders.

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.