Principal Financial Group Inc. Has $28.82 Million Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Principal Financial Group Inc. lowered its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,139 shares of the company’s stock after selling 94,984 shares during the period. Principal Financial Group Inc. owned about 0.56% of BridgeBio Pharma worth $28,817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its stake in BridgeBio Pharma by 21.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company’s stock worth $2,556,000 after buying an additional 16,545 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of BridgeBio Pharma by 2.3% in the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company’s stock valued at $6,013,000 after purchasing an additional 5,007 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $210,000. Harvey Capital Management Inc. acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $354,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of BridgeBio Pharma by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 40,073 shares of the company’s stock valued at $1,100,000 after purchasing an additional 3,908 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 0.1 %

BridgeBio Pharma stock opened at $36.85 on Friday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47. The stock has a 50-day simple moving average of $31.90 and a 200 day simple moving average of $27.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 business had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BBIO. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Scotiabank boosted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday. Finally, Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,148 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now directly owns 102,464 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 3,496,239 shares of company stock valued at $122,612,036. 24.66% of the stock is currently owned by insiders.

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.