BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,150,868 shares of the company’s stock after acquiring an additional 47,360 shares during the quarter. BridgeBio Pharma makes up 1.2% of Emerald Advisers LLC’s investment portfolio, making the stock its 25th biggest holding. Emerald Advisers LLC’s holdings in BridgeBio Pharma were worth $31,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted 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 valued at $413,738,000 after purchasing an additional 879,059 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in BridgeBio Pharma during the 4th quarter valued at approximately $692,000. American Century Companies Inc. raised its stake in BridgeBio Pharma by 9.6% during the 4th quarter. American Century Companies Inc. now owns 1,015,728 shares of the company’s stock valued at $27,872,000 after acquiring an additional 88,882 shares during the last quarter. Teacher Retirement System of Texas raised its stake in BridgeBio Pharma by 28.6% during the 4th quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock valued at $994,000 after acquiring an additional 8,048 shares during the last quarter. Finally, Kazazian Asset Management LLC purchased a new stake in BridgeBio Pharma during the 4th quarter valued at approximately $371,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $34.77 on Friday. The business’s fifty day moving average price is $34.08 and its two-hundred day moving average price is $29.09. The stock has a market cap of $6.61 billion, a PE ratio of -12.20 and a beta of 1.07. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $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. Insiders have sold a total of 9,579,739 shares of company stock valued at $323,171,901 in the last quarter. 24.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BBIO shares. Scotiabank increased their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.20.

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.