Swiss National Bank Has $6.59 Million Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Swiss National Bank raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 9.6% in the 4th quarter, HoldingsChannel reports. The fund owned 240,300 shares of the company’s stock after purchasing an additional 21,000 shares during the period. Swiss National Bank’s holdings in BridgeBio Pharma were worth $6,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of BBIO. Wealthfront Advisers LLC acquired a new position in shares of BridgeBio Pharma in the fourth quarter valued at $592,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BridgeBio Pharma by 25.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,530 shares of the company’s stock valued at $865,000 after buying an additional 6,466 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of BridgeBio Pharma during the 4th quarter worth about $1,543,000. E Fund Management Co. Ltd. boosted its position in shares of BridgeBio Pharma by 13.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,785 shares of the company’s stock valued at $488,000 after acquiring an additional 2,151 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in BridgeBio Pharma in the fourth quarter valued at about $456,000. Institutional investors own 99.85% of the company’s stock.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,579,739 shares of company stock valued at $323,171,901. 24.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BBIO. Bank of America lifted 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. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Citigroup lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and ten 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 price target of $52.20.

BridgeBio Pharma Price Performance

BBIO stock opened at $34.77 on Friday. The stock has a market capitalization of $6.61 billion, a PE ratio of -12.20 and a beta of 1.07. The company has a 50 day moving average price of $34.08 and a 200 day moving average price of $29.09. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) 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 analyst estimates of $4.04 million. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.