Cetera Investment Advisers Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Cetera Investment Advisers acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,163 shares of the company's stock, valued at approximately $1,020,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $29,237,000. Alyeska Investment Group L.P. purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $25,805,000. Capital Research Global Investors lifted its position in shares of BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after buying an additional 912,439 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after buying an additional 879,059 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of BridgeBio Pharma by 23.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock valued at $51,746,000 after buying an additional 353,570 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BBIO shares. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Piper Sandler raised their price objective on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group raised their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Citigroup raised their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, HC Wainwright raised their target price on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.09.

Insider Activity at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the completion of the transaction, the chief accounting officer now owns 147,639 shares in the company, valued at approximately $5,685,577.89. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,392,182 shares of company stock worth $416,921,291 in the last three months. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $0.59 during midday trading on Wednesday, reaching $32.51. 1,185,177 shares of the company's stock were exchanged, compared to its average volume of 2,437,035. The firm's 50 day simple moving average is $34.47 and its two-hundred day simple moving average is $31.97. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of -11.42 and a beta of 1.15. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54.

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

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.