Primecap Management Co. CA Purchases 8,776 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Primecap Management Co. CA lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 915,500 shares of the company’s stock after buying an additional 8,776 shares during the period. Primecap Management Co. CA’s holdings in BridgeBio Pharma were worth $25,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBIO. Steward Partners Investment Advisory LLC raised 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 worth $28,000 after acquiring an additional 472 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after acquiring an additional 1,645 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth $181,000. First Bank & Trust bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma during the fourth quarter worth $208,000. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the transaction, the chief financial officer now directly owns 102,464 shares of the company’s stock, valued at $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,579,739 shares of company stock valued at $323,171,901 over the last three months. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $33.75 on Thursday. The company has a market capitalization of $6.42 billion, a P/E ratio of -11.84 and a beta of 1.07. The business has a 50-day moving average of $33.87 and a two-hundred day moving average of $29.00. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share 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 the consensus estimate of $4.04 million. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBIO. Citigroup upped their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America upped their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank upped their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.55.

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.