Moss Adams Wealth Advisors LLC Boosts Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Moss Adams Wealth Advisors LLC lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 113.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,202 shares of the company's stock after acquiring an additional 8,625 shares during the period. Moss Adams Wealth Advisors LLC's holdings in BridgeBio Pharma were worth $560,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position 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 worth $28,000 after buying an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma during the fourth quarter worth about $41,000. Sterling Capital Management LLC grew 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 worth $49,000 after buying an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma during the fourth quarter worth about $109,000. Finally, First Bank & Trust purchased a new position in BridgeBio Pharma during the fourth quarter worth about $205,000. Institutional investors own 99.85% of the company's stock.

Insider Activity

In related news, Director Hannah Valantine sold 4,292 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $40.00, for a total transaction of $171,680.00. Following the transaction, the director now owns 1,764 shares in the company, valued at $70,560. The trade was a 70.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the transaction, the insider now owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,396,474 shares of company stock valued at $219,332,971. Insiders own 18.20% of the company's stock.

Analyst Upgrades and Downgrades

BBIO has been the subject of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Piper Sandler lifted their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Scotiabank lifted their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Citigroup lifted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average price target of $57.36.

BridgeBio Pharma Stock Up 1.5%

Shares of NASDAQ BBIO traded up $0.60 during midday trading on Thursday, reaching $39.65. The company had a trading volume of 1,738,768 shares, compared to its average volume of 2,478,475. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $40.40. The firm's fifty day moving average price is $34.92 and its 200-day moving average price is $32.91. The stock has a market cap of $7.53 billion, a PE ratio of -13.91 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates 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) EPS. The company's revenue was down 44.8% on a year-over-year basis. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current 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.