BridgeBio Pharma, Inc. (NASDAQ:BBIO) is Sphera Funds Management LTD.’s 2nd Largest Position

Sphera Funds Management LTD. grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 905,279 shares of the company’s stock after buying an additional 62,635 shares during the quarter. BridgeBio Pharma accounts for 4.5% of Sphera Funds Management LTD.’s holdings, making the stock its 2nd biggest position. Sphera Funds Management LTD.’s holdings in BridgeBio Pharma were worth $24,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma in the fourth quarter worth $41,000. Sterling Capital Management LLC grew its stake in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares during the period. Avanza Fonder AB purchased a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $181,000. Finally, First Bank & Trust bought a new stake in shares of BridgeBio Pharma during the 4th quarter worth $205,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Maricel Apuli sold 1,026 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the sale, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,410,217 shares of company stock valued at $417,634,332. Corporate insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $33.74 on Friday. The business’s fifty day moving average is $34.40 and its 200 day moving average is $31.47. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of -11.84 and a beta of 1.15. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, HC Wainwright upped their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.09.

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.