Frontier Capital Management Co. LLC Purchases 572,696 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Frontier Capital Management Co. LLC lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 113.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,075,858 shares of the company's stock after purchasing an additional 572,696 shares during the period. Frontier Capital Management Co. LLC owned 0.57% of BridgeBio Pharma worth $29,522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ironwood Investment Management LLC increased its position in shares of BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock valued at $1,733,000 after buying an additional 338 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in BridgeBio Pharma by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after purchasing an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Xponance Inc. increased its stake in BridgeBio Pharma by 9.1% in the 4th quarter. Xponance Inc. now owns 10,089 shares of the company's stock valued at $277,000 after buying an additional 844 shares during the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in BridgeBio Pharma by 7.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock worth $521,000 after buying an additional 1,275 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBIO. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. HC Wainwright increased their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. UBS Group boosted their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.09.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded up $0.53 on Wednesday, hitting $33.79. The stock had a trading volume of 1,573,480 shares, compared to its average volume of 2,420,466. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -11.86 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. The firm has a 50-day moving average of $34.31 and a 200-day moving average of $31.39.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $57.14 million. During the same quarter last year, the company posted ($0.20) earnings per share. BridgeBio Pharma's revenue for the quarter was down 44.8% compared to the same quarter last year. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,148 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now directly owns 102,464 shares of the company's stock, valued at approximately $3,705,098.24. The trade was a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Maricel Apuli sold 1,026 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the transaction, the chief accounting officer now owns 147,639 shares of the company's stock, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,410,217 shares of company stock valued at $212,434,332. Insiders own 18.20% of the company's stock.

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.