Victory Capital Management Inc. Has $18.55 Million Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Victory Capital Management Inc. lifted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,569 shares of the company’s stock after acquiring an additional 24,156 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of BridgeBio Pharma worth $18,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBIO. Strs Ohio bought a new stake in BridgeBio Pharma in the third quarter worth approximately $181,000. Assetmark Inc. acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $53,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of BridgeBio Pharma by 4.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 87,981 shares of the company’s stock valued at $2,320,000 after acquiring an additional 3,494 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of BridgeBio Pharma by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock valued at $110,000 after acquiring an additional 2,067 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in BridgeBio Pharma by 25.9% during the third quarter. Panagora Asset Management Inc. now owns 176,544 shares of the company’s stock worth $4,655,000 after acquiring an additional 36,299 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

BBIO opened at $28.73 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $44.32. The firm has a market capitalization of $5.38 billion, a P/E ratio of -8.92 and a beta of 1.08. The company’s 50-day moving average is $28.15 and its 200 day moving average is $31.84.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The firm had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $4.78 million. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.92) EPS. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBIO. Raymond James assumed coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective on the stock. BMO Capital Markets began coverage on BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective for the company. Citigroup upped their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of BridgeBio Pharma in a report on Monday, March 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.82.

Insiders Place Their Bets

In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 28.52% of the company’s stock.

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.