Geode Capital Management LLC Purchases 3,744 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Geode Capital Management LLC raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,417,693 shares of the company’s stock after buying an additional 3,744 shares during the quarter. Geode Capital Management LLC’s holdings in BridgeBio Pharma were worth $93,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BBIO. Y Intercept Hong Kong Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $338,000. Barclays PLC raised its position in BridgeBio Pharma by 31.9% in the third quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after purchasing an additional 131,743 shares in the last quarter. Exome Asset Management LLC boosted its holdings 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 purchasing an additional 132,093 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $29,155,000 after purchasing an additional 19,978 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $181,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BBIO. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Evercore ISI increased their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, HC Wainwright restated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.64.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $408,600. This represents a 71.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,684,739 shares of company stock valued at $326,958,651. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Down 1.7 %

NASDAQ:BBIO opened at $32.31 on Friday. The business has a 50 day moving average price of $33.58 and a two-hundred day moving average price of $29.72. The company has a market cap of $6.15 billion, a P/E ratio of -11.34 and a beta of 1.08. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47.

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

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.