First Trust Advisors LP Raises Stock Holdings in BridgeBio Pharma, Inc. $BBIO

First Trust Advisors LP boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 20.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 339,907 shares of the company's stock after buying an additional 58,221 shares during the quarter. First Trust Advisors LP owned approximately 0.17% of BridgeBio Pharma worth $25,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brooklands Fund Management Ltd purchased a new position in shares of BridgeBio Pharma in the fourth quarter valued at about $210,348,000. Price T Rowe Associates Inc. MD raised its stake in shares of BridgeBio Pharma by 144.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company's stock valued at $292,862,000 after acquiring an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company's stock worth $841,349,000 after purchasing an additional 2,259,378 shares during the period. Norges Bank purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth about $116,802,000. Finally, Wellington Management Group LLP grew its stake in shares of BridgeBio Pharma by 130.4% in the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company's stock worth $179,654,000 after purchasing an additional 1,329,537 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Activity

In other news, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company's stock, valued at $778,201.35. The trade was a 46.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the transaction, the director owned 8,383 shares in the company, valued at approximately $742,230.82. The trade was a 94.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 432,117 shares of company stock valued at $32,633,740. 14.23% of the stock is currently owned by insiders.

BridgeBio Pharma Stock Up 1.7%

BridgeBio Pharma stock opened at $85.55 on Wednesday. BridgeBio Pharma, Inc. has a twelve month low of $42.09 and a twelve month high of $93.42. The company has a market capitalization of $16.72 billion, a P/E ratio of -22.87 and a beta of 0.95. The stock's 50 day moving average is $73.46 and its 200 day moving average is $72.67.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.51 million during the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the firm earned ($0.88) EPS. The company's revenue was up 66.8% compared to the same quarter last year. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BBIO. Citigroup boosted their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Royal Bank Of Canada started coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 price target for the company. Canaccord Genuity Group began coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a "buy" rating and a $104.00 price target on the stock. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $95.21.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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