Duality Advisers LP Purchases 31,036 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Duality Advisers LP raised its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,192 shares of the company's stock after purchasing an additional 31,036 shares during the quarter. Duality Advisers LP's holdings in BridgeBio Pharma were worth $3,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $37,434,000. Lord Abbett & CO. LLC bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $20,949,000. Principal Financial Group Inc. boosted its stake in shares of BridgeBio Pharma by 1,744.9% during the 3rd quarter. Principal Financial Group Inc. now owns 745,666 shares of the company's stock worth $19,663,000 after acquiring an additional 705,249 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of BridgeBio Pharma by 170.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company's stock worth $17,552,000 after acquiring an additional 419,813 shares in the last quarter. Finally, Boone Capital Management LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter worth $8,264,000. 99.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BBIO has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of BridgeBio Pharma in a research report on Monday, March 4th. Cantor Fitzgerald raised their price target on BridgeBio Pharma from $60.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. BMO Capital Markets assumed coverage on BridgeBio Pharma in a research report on Wednesday, January 31st. They set a "market perform" rating and a $37.00 target price on the stock. Citigroup lifted their price objective on BridgeBio Pharma from $42.00 to $46.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Finally, Mizuho decreased their price objective on BridgeBio Pharma from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.82.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded up $0.33 on Monday, hitting $25.07. 2,123,107 shares of the company's stock traded hands, compared to its average volume of 1,772,468. The firm's 50-day moving average price is $30.52 and its two-hundred day moving average price is $31.82. The stock has a market capitalization of $4.41 billion, a PE ratio of -6.30 and a beta of 1.03. BridgeBio Pharma, Inc. has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. During the same period last year, the firm earned ($0.92) EPS. The business's revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Randal W. Scott sold 2,500 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company's stock, valued at approximately $221,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 28.52% of the stock is owned by company insiders.

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.