BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Position Lifted by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,800,457 shares of the company's stock after acquiring an additional 40,000 shares during the period. BridgeBio Pharma accounts for 4.3% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 9th largest holding. Frazier Life Sciences Management L.P. owned approximately 2.01% of BridgeBio Pharma worth $104,285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma in the fourth quarter worth $41,000. Sterling Capital Management LLC raised its stake in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after purchasing an additional 1,514 shares in the last quarter. First Bank & Trust purchased a new stake in BridgeBio Pharma during the fourth quarter valued at $205,000. Finally, Legato Capital Management LLC bought a new position in BridgeBio Pharma during the fourth quarter valued at $210,000. 99.85% of the stock is currently owned by institutional investors.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,798,447 shares of the company's stock, valued at $160,268,129.80. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,475,682 shares of company stock valued at $419,721,156. 18.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BBIO shares. 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 report on Wednesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 price objective on the stock. HC Wainwright raised their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler boosted their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

BridgeBio Pharma Trading Up 1.1%

Shares of NASDAQ BBIO traded up $0.37 during midday trading on Friday, hitting $33.34. The company's stock had a trading volume of 2,047,183 shares, compared to its average volume of 2,439,235. The business's 50 day moving average is $34.50 and its two-hundred day moving average is $31.83. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.54. The firm has a market cap of $6.33 billion, a P/E ratio of -11.70 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly 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 company had revenue of $36.74 million during the quarter, compared to analysts' expectations of $57.14 million. During the same period in the prior year, the business earned ($0.20) EPS. The company's quarterly revenue was down 44.8% on a year-over-year basis. On average, analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.