Raymond James & Associates Makes New $366,000 Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Raymond James & Associates bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,073 shares of the company’s stock, valued at approximately $366,000.

Several other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter worth $37,434,000. Northern Trust Corp boosted its position in shares of BridgeBio Pharma by 2.2% during the 3rd quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock worth $30,429,000 after purchasing an additional 24,643 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BridgeBio Pharma by 9.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,056,275 shares of the company’s stock worth $27,854,000 after purchasing an additional 93,324 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of BridgeBio Pharma by 34.9% in the 3rd quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock worth $24,754,000 after buying an additional 242,608 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $20,949,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Randal W. Scott sold 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.52% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $24.88 on Friday. BridgeBio Pharma, Inc. has a 12 month low of $12.75 and a 12 month high of $44.32. The company has a 50-day moving average of $29.42 and a 200-day moving average of $31.76. The company 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. During the same period in the prior year, the company posted ($0.92) earnings per share. BridgeBio Pharma’s revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 EPS for the current year.

Analyst Upgrades and Downgrades

BBIO has been the topic of several recent research reports. Cantor Fitzgerald boosted 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. BMO Capital Markets initiated 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 objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research report on Monday, March 4th. Citigroup boosted their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.82.

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.