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

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in BridgeBio Pharma during the fourth quarter valued at $29,237,000. Alyeska Investment Group L.P. acquired a new position in BridgeBio Pharma in the 4th quarter valued at $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 worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after acquiring an additional 879,059 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position 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 purchasing an additional 353,570 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 3.4%

Shares of BridgeBio Pharma stock traded up $1.11 during trading hours on Thursday, reaching $33.37. 2,623,253 shares of the company's stock were exchanged, compared to its average volume of 2,444,886. The stock has a market cap of $6.34 billion, a P/E ratio of -11.71 and a beta of 1.15. The company has a 50 day moving average of $34.35 and a two-hundred day moving average of $32.02. 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 released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The business's revenue was down 44.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrea Ellis sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $408,600. The trade was a 71.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,392,182 shares of company stock worth $416,921,291. Insiders own 18.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BBIO. HC Wainwright lifted their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. UBS Group boosted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Scotiabank upped their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. 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 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.