232,401 Shares in BridgeBio Pharma, Inc. $BBIO Acquired by Fisher Asset Management LLC

Key Points

• Fisher Asset Management opened a new position in BridgeBio Pharma, buying 232,401 shares valued at about $17.8 million in the fourth quarter.
• BridgeBio saw additional institutional activity, with firms like Allspring Global Investments sharply boosting their stakes. Overall, hedge funds and other institutions own 99.85% of the company.
• Insiders have been selling shares, including the CFO and CAO, while analysts remain mostly bullish. BridgeBio has a Moderate Buy consensus rating, though Raymond James recently downgraded the stock to market perform.

Fisher Asset Management LLC acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 232,401 shares of the company's stock, valued at approximately $17,776,000. Fisher Asset Management LLC owned approximately 0.12% of BridgeBio Pharma as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. L & S Advisors Inc acquired a new stake in BridgeBio Pharma during the third quarter worth $877,000. Principal Financial Group Inc. increased its stake in BridgeBio Pharma by 23.0% during the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company's stock worth $65,829,000 after acquiring an additional 236,885 shares during the last quarter. TD Asset Management Inc acquired a new stake in BridgeBio Pharma during the third quarter worth $4,620,000. Central Pacific Bank Trust Division acquired a new stake in BridgeBio Pharma during the fourth quarter worth $789,000. Finally, Allspring Global Investments Holdings LLC increased its stake in BridgeBio Pharma by 14,211.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company's stock worth $77,783,000 after acquiring an additional 987,273 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total value of $143,160.00. Following the sale, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 236,675 shares of company stock worth $16,177,085. 14.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 10th. Mizuho reissued an "outperform" rating and set a $106.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. William Blair assumed coverage on BridgeBio Pharma in a research note on Tuesday, March 10th. They set an "outperform" rating for the company. Finally, Raymond James Financial cut BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Twenty-two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $88.90.

BridgeBio Pharma Trading Down 1.9%

BBIO stock opened at $66.44 on Thursday. The company has a market capitalization of $13.01 billion, a PE ratio of -17.76 and a beta of 1.02. BridgeBio Pharma, Inc. has a 12-month low of $31.77 and a 12-month high of $84.94. The business's fifty day moving average price is $71.20 and its 200 day moving average price is $72.05.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. The company's revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.88) EPS. Research analysts predict that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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