California State Teachers Retirement System Acquires 7,388 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

California State Teachers Retirement System lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,655 shares of the company's stock after purchasing an additional 7,388 shares during the quarter. California State Teachers Retirement System owned about 0.06% of BridgeBio Pharma worth $3,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Ironwood Investment Management LLC grew its holdings in shares of BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock valued at $1,733,000 after buying an additional 338 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock valued at $404,000 after acquiring an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the 4th 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 during the period. Mackenzie Financial Corp increased its holdings in shares of BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock valued at $261,000 after purchasing an additional 592 shares during the period. Finally, Xponance Inc. lifted its position in shares of BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company's stock worth $277,000 after purchasing an additional 844 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BBIO shares. Citigroup upped their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Redburn Atlantic assumed coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. UBS Group lifted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler increased their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.09.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction dated Monday, May 12th. The stock was 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 $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares of the company's stock, valued at $5,685,577.89. The trade was a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,392,182 shares of company stock worth $219,161,291 in the last 90 days. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $0.28 during mid-day trading on Friday, reaching $38.62. 2,682,485 shares of the company's stock were exchanged, compared to its average volume of 2,460,673. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.66. The business's fifty day simple moving average is $34.44 and its two-hundred day simple moving average is $32.46. The firm has a market capitalization of $7.33 billion, a PE ratio of -13.55 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The firm's revenue for the quarter was down 44.8% compared to the same quarter last year. As a group, equities research analysts forecast 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.