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

Woodline Partners LP raised its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 132.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,211,521 shares of the company's stock after purchasing an additional 1,261,772 shares during the period. Woodline Partners LP owned 1.17% of BridgeBio Pharma worth $60,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Zimmer Partners LP purchased a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $4,950,000. Tema Etfs LLC purchased a new stake in BridgeBio Pharma during the fourth quarter valued at approximately $3,896,000. Sphera Funds Management LTD. raised its position in BridgeBio Pharma by 7.4% during the fourth quarter. Sphera Funds Management LTD. now owns 905,279 shares of the company's stock valued at $24,841,000 after purchasing an additional 62,635 shares during the period. Rafferty Asset Management LLC raised its position in BridgeBio Pharma by 2.8% during the fourth quarter. Rafferty Asset Management LLC now owns 250,242 shares of the company's stock valued at $6,867,000 after purchasing an additional 6,911 shares during the period. Finally, ProShare Advisors LLC raised its position in BridgeBio Pharma by 28.8% during the fourth quarter. ProShare Advisors LLC now owns 48,539 shares of the company's stock valued at $1,332,000 after purchasing an additional 10,864 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brian C. Stephenson sold 8,500 shares of BridgeBio Pharma stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $33.19, for a total value of $282,115.00. Following the transaction, the chief financial officer now directly owns 102,464 shares in the company, valued at approximately $3,400,780.16. This trade represents a 7.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction 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 owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,410,217 shares of company stock worth $417,634,332 in the last ninety days. 18.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BBIO. Citigroup upped their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Redburn Atlantic initiated coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Piper Sandler increased their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Stock Down 0.4%

BBIO opened at $33.69 on Tuesday. The stock's fifty day moving average is $34.45 and its two-hundred day moving average is $31.70. The company has a market capitalization of $6.40 billion, a P/E ratio of -11.82 and a beta of 1.15. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analysts' expectations 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 previous year, the business earned ($0.20) earnings per share. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

About BridgeBio Pharma

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.

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