Zurcher Kantonalbank Zurich Cantonalbank Buys 6,466 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 25.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,530 shares of the company’s stock after purchasing an additional 6,466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BridgeBio Pharma were worth $865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBIO. Steward Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after buying an additional 472 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after purchasing an additional 1,645 shares in the last quarter. Avanza Fonder AB bought a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $181,000. First Bank & Trust purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $208,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank upped their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. 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. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. One research 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, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 326,932 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,148 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the transaction, the chief financial officer now owns 102,464 shares in the company, valued at $3,705,098.24. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,579,739 shares of company stock valued at $323,171,901 over the last ninety days. 24.66% of the stock is owned by insiders.

BridgeBio Pharma Stock Performance

BBIO stock opened at $33.91 on Friday. The firm has a market cap of $6.45 billion, a PE ratio of -11.90 and a beta of 1.07. The firm has a fifty day moving average price of $33.96 and a 200 day moving average price of $29.03. 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 data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS 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.