Raymond James Financial Inc. Purchases New Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Raymond James Financial Inc. purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,631 shares of the company's stock, valued at approximately $456,000.

Other hedge funds also recently made changes to their positions in the company. Ironwood Investment Management LLC increased its stake in BridgeBio Pharma by 0.5% in the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock valued at $1,733,000 after buying an additional 338 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after buying an additional 472 shares during the period. Xponance Inc. grew its holdings in shares of BridgeBio Pharma by 9.1% during the 4th quarter. Xponance Inc. now owns 10,089 shares of the company's stock valued at $277,000 after acquiring an additional 844 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of BridgeBio Pharma by 7.2% in the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock worth $521,000 after acquiring an additional 1,275 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in shares of BridgeBio Pharma by 13.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,785 shares of the company's stock worth $488,000 after acquiring an additional 2,151 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of BBIO traded down $2.42 during mid-day trading on Tuesday, hitting $33.26. The company's stock had a trading volume of 6,478,443 shares, compared to its average volume of 2,421,059. The stock's 50-day moving average is $34.29 and its two-hundred day moving average is $31.38. The firm has a market capitalization of $6.32 billion, a PE ratio of -11.67 and a beta of 1.15. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. BridgeBio Pharma's revenue for the quarter was down 44.8% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Citigroup upped their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Finally, Scotiabank upped their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrew Lo sold 100,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total value of $3,850,000.00. Following the sale, the director now owns 105,583 shares of the company's stock, valued at $4,064,945.50. The trade was a 48.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Maricel Apuli sold 1,026 shares of the 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 completion of the transaction, the chief accounting officer now owns 147,639 shares of the company's stock, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,410,217 shares of company stock worth $212,434,332. Company insiders own 24.66% of the company's stock.

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.