BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Comerica Bank

Comerica Bank increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 131.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,116 shares of the company's stock after purchasing an additional 60,256 shares during the quarter. Comerica Bank owned 0.06% of BridgeBio Pharma worth $2,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 1,514 shares during the last quarter. Avanza Fonder AB acquired a new stake in BridgeBio Pharma during the fourth quarter worth about $181,000. First Bank & Trust acquired a new position in BridgeBio Pharma during the fourth quarter valued at approximately $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of BridgeBio Pharma in the fourth quarter worth $208,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Maricel Apuli sold 1,026 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. The trade was a 0.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,410,217 shares of company stock worth $212,434,332 over the last ninety days. Company insiders own 24.66% of the company's stock.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of research reports. Piper Sandler upped their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. HC Wainwright upped 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. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded down $0.68 during trading on Friday, reaching $34.17. The stock had a trading volume of 1,787,926 shares, compared to its average volume of 2,398,457. The firm's 50 day moving average price is $34.27 and its two-hundred day moving average price is $31.20. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.54. The stock has a market cap of $6.49 billion, a PE ratio of -11.99 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted 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 business had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. The company's quarterly revenue was down 44.8% on a year-over-year basis. During the same period last year, the firm posted ($0.20) earnings per share. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share 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.