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) in the 4th quarter, according to 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.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after purchasing an additional 879,059 shares in the last quarter. Capital Research Global Investors boosted its holdings 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 buying an additional 912,439 shares during the period. The Manufacturers Life Insurance Company increased its stake in BridgeBio Pharma by 23.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock worth $51,746,000 after buying an additional 353,570 shares in the last quarter. Northern Trust Corp increased its stake in BridgeBio Pharma by 3.4% in the 4th quarter. Northern Trust Corp now owns 1,323,258 shares of the company's stock worth $36,310,000 after buying an additional 43,955 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in BridgeBio Pharma by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after acquiring an additional 21,963 shares during the period. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded down $0.24 during mid-day trading on Tuesday, hitting $33.10. 1,571,061 shares of the company's stock traded hands, compared to its average volume of 2,441,607. The company has a market capitalization of $6.29 billion, a P/E ratio of -11.61 and a beta of 1.15. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.54. The company's 50-day moving average is $34.49 and its two-hundred day moving average is $31.96.

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, beating analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. The company's revenue for the quarter was down 44.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) earnings per share. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,026 shares of the firm's stock in a transaction dated 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. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total value of $2,765,250.00. Following the transaction, the chief executive officer now owns 4,948,447 shares of the company's stock, valued at $182,449,240.89. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,392,182 shares of company stock worth $416,921,291. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BBIO. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective for the company. UBS Group increased their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Citigroup lifted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Scotiabank upped their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, HC Wainwright lifted their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

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.