Principal Financial Group Inc. Purchases 98,153 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Principal Financial Group Inc. boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,148,292 shares of the company's stock after purchasing an additional 98,153 shares during the period. Principal Financial Group Inc. owned about 0.60% of BridgeBio Pharma worth $39,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after purchasing an additional 879,059 shares in the last quarter. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Farallon Capital Management LLC increased its stake in BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after acquiring an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock worth $104,285,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after acquiring an additional 912,439 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the stock in a transaction dated 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 owned 18,555,375 shares in the company, valued at approximately $816,436,500. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction dated 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 owned 975,686 shares of the company's stock, valued at approximately $41,505,682.44. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,936,181 shares of company stock worth $375,878,164 in the last 90 days. 18.20% of the stock is owned by corporate insiders.

BridgeBio Pharma Trading Up 0.6%

NASDAQ:BBIO traded up $0.29 during midday trading on Thursday, hitting $46.27. 2,424,080 shares of the stock were exchanged, compared to its average volume of 2,526,384. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -13.11 and a beta of 1.15. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $46.84. The business has a 50-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 (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. During the same period in the prior year, the company posted ($0.20) EPS. BridgeBio Pharma's quarterly revenue was down 44.8% on a year-over-year basis. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the topic of several analyst reports. Scotiabank boosted their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. UBS Group upped their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. 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 research report on Wednesday. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company increased their price objective on BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, June 30th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.93.

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.