Charles Schwab Investment Management Inc. Grows Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Charles Schwab Investment Management Inc. boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,123,220 shares of the company's stock after acquiring an additional 66,945 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of BridgeBio Pharma worth $45,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in BridgeBio Pharma during the third quarter valued at approximately $53,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in BridgeBio Pharma during the 3rd quarter valued at approximately $132,000. Sargent Investment Group LLC acquired a new position in BridgeBio Pharma during the 4th quarter valued at approximately $213,000. Atria Wealth Solutions Inc. acquired a new position in BridgeBio Pharma during the 4th quarter valued at approximately $214,000. Finally, Certuity LLC acquired a new position in BridgeBio Pharma during the 4th quarter valued at approximately $258,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

BBIO stock traded down $0.95 during midday trading on Friday, hitting $30.09. 2,247,140 shares of the stock traded hands, compared to its average volume of 1,477,570. The firm has a market cap of $5.63 billion, a P/E ratio of -9.34 and a beta of 1.08. The stock's fifty day simple moving average is $27.87 and its 200-day simple moving average is $32.10. BridgeBio Pharma, Inc. has a 1-year low of $12.75 and a 1-year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly 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 company had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.92) EPS. On average, research analysts predict that BridgeBio Pharma, Inc. will post -3.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BBIO shares. Evercore ISI started coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They set an "outperform" rating and a $50.00 price target on the stock. Citigroup upped their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Raymond James assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an "outperform" rating and a $45.00 price objective on the stock. Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

Insider Activity at BridgeBio Pharma

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

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.