Northern Trust Corp Has $36.31 Million Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Northern Trust Corp raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,323,258 shares of the company's stock after purchasing an additional 43,955 shares during the quarter. Northern Trust Corp owned about 0.70% of BridgeBio Pharma worth $36,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in BridgeBio Pharma by 23.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock valued at $51,746,000 after acquiring an additional 353,570 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of BridgeBio Pharma during the fourth quarter valued at $6,531,000. Virtus ETF Advisers LLC raised its stake in shares of BridgeBio Pharma by 11.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 12,637 shares of the company's stock valued at $347,000 after purchasing an additional 1,280 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in BridgeBio Pharma by 92.4% in the fourth quarter. Nebula Research & Development LLC now owns 36,239 shares of the company's stock worth $994,000 after purchasing an additional 17,400 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in BridgeBio Pharma in the 4th quarter valued at about $7,409,000. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Down 6.8%

BBIO stock traded down $2.42 during midday trading on Tuesday, hitting $33.26. 6,478,443 shares of the company traded hands, compared to its average volume of 2,423,245. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -11.67 and a beta of 1.15. The business has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $31.38.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. The business's quarterly revenue was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. Equities research 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 business's stock in a transaction on 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 of the company's stock, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,410,217 shares of company stock valued at $212,434,332. Insiders own 24.66% of the company's stock.

Analyst Ratings Changes

BBIO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 24th. UBS Group raised their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Redburn Atlantic assumed coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. Scotiabank increased their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price objective on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.09.

BridgeBio Pharma 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.