Nicholas Investment Partners LP Purchases 24,248 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Nicholas Investment Partners LP increased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 68.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,892 shares of the company's stock after purchasing an additional 24,248 shares during the quarter. Nicholas Investment Partners LP's holdings in BridgeBio Pharma were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of BridgeBio Pharma by 4.3% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,118 shares of the company's stock worth $1,677,000 after acquiring an additional 2,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of BridgeBio Pharma by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,994 shares of the company's stock worth $2,468,000 after purchasing an additional 3,481 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after purchasing an additional 89,521 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $5,076,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of BridgeBio Pharma in the fourth quarter worth about $3,088,000. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BBIO. Scotiabank raised their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. HC Wainwright raised their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Piper Sandler raised their price target on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Stock Down 2.2%

Shares of NASDAQ:BBIO traded down $0.74 during trading on Monday, reaching $33.10. The stock had a trading volume of 799,932 shares, compared to its average volume of 2,431,077. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $39.54. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of -11.61 and a beta of 1.15. The stock has a fifty day simple moving average of $34.43 and a two-hundred day simple moving average of $31.65.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same period last year, the firm posted ($0.20) EPS. The company's revenue was down 44.8% compared to the same quarter last year. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Buying and Selling

In related news, CAO Maricel Apuli sold 1,026 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the transaction, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,410,217 shares of company stock valued at $417,634,332. 18.20% 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.