BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 22.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,851 shares of the company's stock after purchasing an additional 14,825 shares during the quarter. Victory Capital Management Inc.'s holdings in BridgeBio Pharma were worth $2,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $456,000. KLP Kapitalforvaltning AS acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $692,000. Vanguard Group Inc. raised 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 worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Norges Bank acquired a new position in BridgeBio Pharma during the fourth quarter worth $29,237,000. Finally, Schroder Investment Management Group acquired a new position in BridgeBio Pharma during the fourth quarter worth $949,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Up 1.4%

Shares of BBIO traded up $0.64 during midday trading on Friday, reaching $47.91. 636,184 shares of the company were exchanged, compared to its average volume of 2,969,377. The stock has a 50-day moving average price of $42.02 and a 200-day moving average price of $36.97. The company has a market cap of $9.10 billion, a price-to-earnings ratio of -13.56 and a beta of 1.15. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $48.68.

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

Insider Activity at BridgeBio Pharma

In related news, Director Hannah Valantine sold 4,292 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $40.00, for a total value of $171,680.00. Following the transaction, the director owned 1,764 shares in the company, valued at approximately $70,560. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Mccormick sold 100,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the completion of the transaction, the director owned 879,979 shares in the company, valued at approximately $38,921,471.17. This trade represents a 10.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,750,155 shares of company stock valued at $369,080,403 over the last 90 days. Corporate insiders own 18.20% of the company's stock.

Analysts Set New Price Targets

BBIO has been the subject of several research reports. Scotiabank lifted their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Wall Street Zen cut BridgeBio Pharma from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Citigroup lifted their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Bank of America boosted their price target on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, Wolfe Research assumed coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price target for the company. One equities research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.18.

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.