Allspring Global Investments Holdings LLC Purchases Shares of 7,610 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Allspring Global Investments Holdings LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,610 shares of the company's stock, valued at approximately $251,000.

Several other large investors also recently bought and sold shares of the company. Ironwood Investment Management LLC grew its position in shares of BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after buying an additional 338 shares in the last quarter. GAMMA Investing LLC grew its position in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after purchasing an additional 466 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings 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 worth $28,000 after purchasing an additional 472 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in BridgeBio Pharma by 6.6% in the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $44.00, for a total value of $154,000,000.00. Following the transaction, the insider directly owned 18,555,375 shares of the company's stock, valued at $816,436,500. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $34.11, for a total value of $2,558,250.00. Following the completion of the transaction, the chief executive officer directly owned 4,873,447 shares in the company, valued at approximately $166,233,277.17. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,936,181 shares of company stock worth $375,878,164. 18.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price objective on the stock. Oppenheimer raised BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a report on Wednesday. Piper Sandler lifted their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Wolfe Research began coverage on BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.21.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded up $0.20 during trading on Friday, hitting $46.47. 2,187,980 shares of the stock traded hands, compared to its average volume of 2,538,377. The stock has a market cap of $8.82 billion, a P/E ratio of -13.16 and a beta of 1.15. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $46.80. The company has a fifty day moving average price of $38.69 and a two-hundred day moving average price of $35.30.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same quarter last year, the firm posted ($0.20) earnings per share. The firm's revenue for the quarter was down 44.8% compared to the same quarter last year. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS 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.