Cambridge Investment Research Advisors Inc. Purchases 6,997 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Cambridge Investment Research Advisors Inc. increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 29.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,802 shares of the company's stock after purchasing an additional 6,997 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in BridgeBio Pharma were worth $1,065,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Steward Partners Investment Advisory LLC increased its holdings 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 worth $28,000 after buying an additional 472 shares in the last quarter. GAMMA Investing LLC increased its holdings 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. Itau Unibanco Holding S.A. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $41,000. Sterling Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded up $2.88 during midday trading on Wednesday, reaching $46.07. 2,413,649 shares of the stock were exchanged, compared to its average volume of 2,513,307. The business has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $34.93. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -13.06 and a beta of 1.15. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $46.41.

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

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $42.54, for a total value of $1,701,600.00. Following the sale, the chief executive officer directly owned 975,686 shares in the company, valued at approximately $41,505,682.44. The trade was a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider owned 13,260,971 shares in the company, valued at $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,936,181 shares of company stock worth $375,878,164 in the last ninety days. 18.20% of the stock is owned by insiders.

Analysts Set New Price Targets

BBIO has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price target for the company. 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. HC Wainwright raised their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Oppenheimer raised shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.93.

BridgeBio Pharma 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.