The Manufacturers Life Insurance Company Purchases 353,570 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

The Manufacturers Life Insurance Company raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,885,794 shares of the company's stock after purchasing an additional 353,570 shares during the quarter. The Manufacturers Life Insurance Company owned 1.00% of BridgeBio Pharma worth $51,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock valued at $29,155,000 after purchasing an additional 19,978 shares during the period. Capital Research Global Investors boosted its holdings in shares of BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after acquiring an additional 912,439 shares during the period. Teacher Retirement System of Texas grew its position in shares of BridgeBio Pharma by 28.6% during the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company's stock worth $994,000 after acquiring an additional 8,048 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after acquiring an additional 879,059 shares during the period. Finally, Legal & General Group Plc lifted its position in BridgeBio Pharma by 2.8% in the 4th quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after purchasing an additional 3,706 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BBIO. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Citigroup raised their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

BridgeBio Pharma Stock Down 2.3 %

Shares of BBIO traded down $0.87 during mid-day trading on Tuesday, hitting $37.35. 685,809 shares of the company's stock were exchanged, compared to its average volume of 2,345,113. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of -13.10 and a beta of 1.15. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The firm has a fifty day moving average of $34.15 and a two-hundred day moving average of $31.00.

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

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 31,543 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the sale, the chief executive officer now owns 211,718 shares of the company's stock, valued at $7,651,488.52. The trade was a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares in the company, valued at $3,705,098.24. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,309,191 shares of company stock worth $208,544,821 over the last three months. 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.