284,993 Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Acquired by abrdn plc

abrdn plc purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 284,993 shares of the company’s stock, valued at approximately $11,505,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBIO. Assetmark Inc. purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $53,000. China Universal Asset Management Co. Ltd. grew its stake in shares of BridgeBio Pharma by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock worth $110,000 after buying an additional 2,067 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $132,000. Strs Ohio purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at $181,000. Finally, Caxton Associates LP purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In related 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 value of $85,000.00. Following the transaction, 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 through the SEC website. 28.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Mizuho cut their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Cantor Fitzgerald increased their target price on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $47.00 target price on shares of BridgeBio Pharma in a research note on Monday, March 4th. Finally, Citigroup increased their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.82.

BridgeBio Pharma Price Performance

BBIO stock opened at $24.33 on Friday. The company has a market cap of $4.28 billion, a P/E ratio of -6.18 and a beta of 1.03. BridgeBio Pharma, Inc. has a 1 year low of $12.75 and a 1 year high of $44.32. The stock’s fifty day moving average price is $29.66 and its 200-day moving average price is $31.73.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) 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. During the same quarter in the prior year, the business posted ($0.92) EPS. BridgeBio Pharma’s revenue was down 8.4% on a year-over-year basis. As a group, analysts expect that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current 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.