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

Handelsbanken Fonder AB boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 26,350 shares of the company’s stock after buying an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in BridgeBio Pharma were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $37,434,000. Lord Abbett & CO. LLC acquired a new position in BridgeBio Pharma in the third quarter valued at approximately $20,949,000. Principal Financial Group Inc. grew its stake in shares of BridgeBio Pharma by 1,744.9% during the 3rd quarter. Principal Financial Group Inc. now owns 745,666 shares of the company’s stock worth $19,663,000 after purchasing an additional 705,249 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of BridgeBio Pharma by 170.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock worth $17,552,000 after purchasing an additional 419,813 shares during the period. Finally, Boone Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $8,264,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $24.88 on Monday. The business’s 50 day moving average price is $29.42 and its 200-day moving average price is $31.79. BridgeBio Pharma, Inc. has a 1 year low of $12.75 and a 1 year high of $44.32. The firm has a market capitalization of $4.37 billion, a PE ratio of -6.31 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

BBIO has been the topic of several analyst reports. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $47.00 price target on shares of BridgeBio Pharma in a research note on Monday, March 4th. Raymond James assumed coverage on BridgeBio Pharma in a research report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price target on the stock. Cantor Fitzgerald boosted their price objective on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Citigroup lifted their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.82.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.52% of the stock is currently owned by company insiders.

About BridgeBio Pharma

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.