Jennison Associates LLC Has $781,000 Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Jennison Associates LLC trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,357 shares of the company’s stock after selling 944 shares during the quarter. Jennison Associates LLC’s holdings in BridgeBio Pharma were worth $781,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in BridgeBio Pharma during the 3rd quarter worth approximately $53,000. China Universal Asset Management Co. Ltd. increased its position in BridgeBio Pharma by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock worth $110,000 after purchasing an additional 2,067 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in BridgeBio Pharma during the 3rd quarter worth approximately $132,000. Strs Ohio acquired a new position in BridgeBio Pharma during the 3rd quarter worth approximately $181,000. Finally, Xponance Inc. acquired a new position in BridgeBio Pharma during the 4th quarter worth approximately $281,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBIO shares. Cantor Fitzgerald upped their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Citigroup upped their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. BMO Capital Markets began coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price target for the company. Finally, Mizuho decreased their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.82.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $221,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 28.52% of the stock is owned by insiders.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $24.88 on Friday. The firm’s fifty day moving average is $29.42 and its 200-day moving average is $31.76. BridgeBio Pharma, Inc. has a 52 week low of $12.75 and a 52 week high of $44.32. The firm has a market cap of $4.37 billion, a P/E ratio of -6.31 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.92) earnings per share. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 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.