Alliancebernstein L.P. Has $76.68 Million Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Alliancebernstein L.P. decreased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,794,292 shares of the company’s stock after selling 33,374 shares during the period. Alliancebernstein L.P.’s holdings in BridgeBio Pharma were worth $76,675,000 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 BBIO. Polar Asset Management Partners Inc. bought a new position in BridgeBio Pharma during the 3rd quarter worth approximately $1,286,000. Janus Henderson Group PLC increased its position in shares of BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares during the period. Principal Financial Group Inc. raised its stake in BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in BridgeBio Pharma by 28.6% in the fourth quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock valued at $994,000 after buying an additional 8,048 shares during the period. Finally, Exome Asset Management LLC boosted its position in BridgeBio Pharma by 167.4% during the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after acquiring an additional 132,093 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

BBIO opened at $34.07 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The firm has a market capitalization of $6.48 billion, a PE ratio of -11.95 and a beta of 1.08. The company’s 50-day moving average is $34.13 and its 200 day moving average is $29.46.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted 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. Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research note on Monday. They issued a “buy” rating and a $50.00 price objective for the company. Evercore ISI increased their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.64.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 326,932 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,684,739 shares of company stock worth $326,958,651. Corporate 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.