Tower Research Capital LLC TRC Acquires 18,679 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Tower Research Capital LLC TRC increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 889.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,778 shares of the company's stock after purchasing an additional 18,679 shares during the quarter. Tower Research Capital LLC TRC's holdings in BridgeBio Pharma were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 buying an additional 879,059 shares during the last quarter. Capital Research Global Investors lifted its stake in BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after acquiring an additional 912,439 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in BridgeBio Pharma by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after acquiring an additional 21,963 shares in the last quarter. Emerald Advisers LLC increased its position in BridgeBio Pharma by 4.3% during the 4th quarter. Emerald Advisers LLC now owns 1,150,868 shares of the company's stock valued at $31,580,000 after purchasing an additional 47,360 shares during the period. Finally, Principal Financial Group Inc. increased 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. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research reports. Citigroup boosted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, March 24th. Piper Sandler lifted their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, HC Wainwright increased their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock traded up $0.17 during mid-day trading on Friday, reaching $38.57. The stock had a trading volume of 3,168,027 shares, compared to its average volume of 2,352,389. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.54. The company has a 50-day moving average price of $34.06 and a two-hundred day moving average price of $30.91. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.53 and a beta of 1.15.

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

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Andrea Ellis sold 10,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company's stock, valued at approximately $420,000. The trade was a 45.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total transaction of $2,558,250.00. Following the sale, the chief executive officer now owns 4,873,447 shares of the company's stock, valued at approximately $166,233,277.17. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,309,191 shares of company stock valued at $208,544,821. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Company 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.