BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 16.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,950 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in BridgeBio Pharma were worth $1,041,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after purchasing an additional 505,481 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in BridgeBio Pharma by 3.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after purchasing an additional 127,853 shares in the last quarter. Geode Capital Management LLC raised its position in BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after purchasing an additional 123,540 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in BridgeBio Pharma by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after purchasing an additional 95,605 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 2.6 %

NASDAQ:BBIO opened at $34.30 on Friday. The stock’s 50 day moving average price is $32.51 and its 200 day moving average price is $28.21. The company has a market capitalization of $6.52 billion, a PE ratio of -12.04 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company 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 -3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on BBIO. Bank of America increased their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Citigroup raised their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and an average price target of $51.67.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $33.57, for a total value of $2,517,750.00. Following the transaction, the chief executive officer now directly owns 5,023,447 shares in the company, valued at approximately $168,637,115.79. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 8,500 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total value of $282,115.00. Following the completion of the transaction, the chief financial officer now owns 102,464 shares in the company, valued at $3,400,780.16. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,579,739 shares of company stock worth $125,411,901 in the last quarter. 24.66% of the stock is 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.