abrdn plc bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 284,993 shares of the company's stock, valued at approximately $11,505,000. abrdn plc owned about 0.16% of BridgeBio Pharma at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in BBIO. Wellington Management Group LLP acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $37,434,000. Lord Abbett & CO. LLC bought a new stake in BridgeBio Pharma in the 3rd quarter valued at $20,949,000. Principal Financial Group Inc. boosted its stake in BridgeBio Pharma by 1,744.9% in the 3rd quarter. Principal Financial Group Inc. now owns 745,666 shares of the company's stock valued at $19,663,000 after purchasing an additional 705,249 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BridgeBio Pharma by 170.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company's stock valued at $17,552,000 after purchasing an additional 419,813 shares during the period. Finally, Boone Capital Management LLC bought a new stake in BridgeBio Pharma in the 3rd quarter valued at $8,264,000. 99.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on BBIO. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, March 20th. Citigroup upped their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Mizuho cut their target price on BridgeBio Pharma from $60.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, March 5th. HC Wainwright reiterated a "buy" rating and set a $47.00 target price on shares of BridgeBio Pharma in a research report on Monday, March 4th. Finally, BMO Capital Markets initiated coverage on BridgeBio Pharma in a research report on Wednesday, January 31st. They set a "market perform" rating and a $37.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.82.
Check Out Our Latest Report on BridgeBio Pharma
BridgeBio Pharma Trading Up 2.3 %
BBIO traded up $0.55 on Friday, reaching $24.88. The stock had a trading volume of 1,049,009 shares, compared to its average volume of 1,753,737. BridgeBio Pharma, Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $44.32. The firm has a 50-day moving average of $29.42 and a 200-day moving average of $31.72. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -6.31 and a beta of 1.03.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm posted ($0.92) earnings per share. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Randal W. Scott sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares of the company's stock, valued at $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.52% of the stock is currently owned by insiders.
BridgeBio Pharma Profile
(
Free Report)
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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