Wealthfront Advisers LLC Acquires New Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Wealthfront Advisers LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,578 shares of the company’s stock, valued at approximately $592,000.

A number of other hedge funds also recently made changes to their positions in BBIO. State of New Jersey Common Pension Fund D lifted its holdings in shares of BridgeBio Pharma by 13.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 76,586 shares of the company’s stock valued at $1,950,000 after acquiring an additional 9,225 shares in the last quarter. Royce & Associates LP purchased a new stake in BridgeBio Pharma during the 3rd quarter worth $3,105,000. Mizuho Markets Americas LLC increased its stake in BridgeBio Pharma by 3.8% during the 3rd quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company’s stock worth $2,220,000 after buying an additional 3,198 shares during the period. Swiss National Bank increased its stake in BridgeBio Pharma by 1.1% during the 3rd quarter. Swiss National Bank now owns 219,300 shares of the company’s stock worth $5,583,000 after buying an additional 2,400 shares during the period. Finally, Quest Partners LLC increased its stake in BridgeBio Pharma by 134.0% during the 3rd quarter. Quest Partners LLC now owns 31,173 shares of the company’s stock worth $794,000 after buying an additional 17,849 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BBIO shares. Evercore ISI lifted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Insider Buying and Selling at BridgeBio Pharma

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 shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. The trade was a 23.75 % 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 in the last ninety days. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $32.97 on Monday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The company has a 50-day simple moving average of $33.62 and a 200-day simple moving average of $28.88. The firm has a market capitalization of $6.27 billion, a PE ratio of -11.57 and a beta of 1.07.

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

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.