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

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

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake 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 valued at $28,000 after acquiring an additional 472 shares during the last quarter. GAMMA Investing LLC increased its stake in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma in the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC increased its stake in BridgeBio Pharma by 554.6% in 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 in the fourth quarter valued at approximately $109,000. 99.85% of the stock is owned by institutional investors.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction on Friday, June 27th. The shares were sold at an average price of $44.00, for a total value of $154,000,000.00. Following the completion of the sale, the insider directly owned 18,555,375 shares of the company's stock, valued at approximately $816,436,500. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,701,600.00. Following the completion of the sale, the chief executive officer directly owned 975,686 shares of the company's stock, valued at approximately $41,505,682.44. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,936,181 shares of company stock valued at $375,878,164. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Trading Up 6.5%

BBIO stock traded up $2.79 during midday trading on Wednesday, hitting $45.98. The stock had a trading volume of 4,633,840 shares, compared to its average volume of 2,526,629. The firm has a market cap of $8.73 billion, a P/E ratio of -13.03 and a beta of 1.15. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $46.43. The business has a fifty day moving average price of $38.37 and a two-hundred day moving average price of $35.01.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share 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. During the same period last year, the firm posted ($0.20) earnings per share. The company's revenue for the quarter was down 44.8% on a year-over-year basis. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 target price on the stock. Wolfe Research started coverage on shares of BridgeBio Pharma in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price on the stock. Bank of America lifted their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Piper Sandler lifted their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Oppenheimer upgraded shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus target price of $58.93.

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.