Woodline Partners LP Boosts Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Woodline Partners LP boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 132.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,211,521 shares of the company's stock after buying an additional 1,261,772 shares during the period. Woodline Partners LP owned approximately 1.17% of BridgeBio Pharma worth $60,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Ironwood Investment Management LLC boosted its position in BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in BridgeBio Pharma by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after purchasing an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Xponance Inc. boosted its position in BridgeBio Pharma by 9.1% in the 4th quarter. Xponance Inc. now owns 10,089 shares of the company's stock worth $277,000 after purchasing an additional 844 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in BridgeBio Pharma by 7.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock worth $521,000 after purchasing an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 75,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $33.57, for a total transaction of $2,517,750.00. Following the sale, the chief executive officer now owns 5,023,447 shares of the company's stock, valued at approximately $168,637,115.79. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 8,500 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $33.19, for a total value of $282,115.00. Following the sale, the chief financial officer now directly owns 102,464 shares in the company, valued at $3,400,780.16. This trade represents a 7.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,475,682 shares of company stock valued at $419,721,156 in the last three months. 18.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Piper Sandler upped their price objective on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Scotiabank increased their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded up $0.37 during mid-day trading on Friday, hitting $33.34. The stock had a trading volume of 2,047,183 shares, compared to its average volume of 2,445,094. The firm's 50 day moving average is $34.50 and its 200 day moving average is $31.88. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -11.70 and a beta of 1.15.

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

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.