BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 4,544.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,120,933 shares of the company's stock after buying an additional 1,096,799 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.59% of BridgeBio Pharma worth $38,751,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of BridgeBio Pharma by 71.0% in 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. Steward Partners Investment Advisory LLC raised its stake in 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 purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $41,000. Sterling Capital Management LLC increased its position in BridgeBio Pharma by 554.6% during the fourth 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 last quarter. Finally, GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma during the fourth quarter valued at $109,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Transactions at BridgeBio Pharma

In other news, 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 sale, the chief accounting officer now owns 147,639 shares of the company's stock, valued at $5,685,577.89. This trade represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hannah Valantine sold 4,292 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $40.00, for a total transaction of $171,680.00. Following the sale, the director now directly owns 1,764 shares in the company, valued at $70,560. The trade was a 70.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,396,474 shares of company stock valued at $219,332,971 in the last 90 days. 18.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. HC Wainwright increased their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Scotiabank increased their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, 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 report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.36.

BridgeBio Pharma Price Performance

BBIO traded up $0.13 during trading on Friday, reaching $39.78. 2,644,758 shares of the company's stock were exchanged, compared to its average volume of 2,494,016. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $40.40. The stock has a market capitalization of $7.55 billion, a P/E ratio of -13.96 and a beta of 1.10. The company's fifty day simple moving average is $35.29 and its 200-day simple moving average is $33.13.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. BridgeBio Pharma's revenue for the quarter was down 44.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) EPS. Equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

About BridgeBio Pharma

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.