Cetera Investment Advisers Takes $1.02 Million Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Cetera Investment Advisers acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,163 shares of the company’s stock, valued at approximately $1,020,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC increased its stake 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 acquiring an additional 472 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC increased its position in BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after purchasing an additional 1,514 shares in the last quarter. First Bank & Trust acquired a new stake in BridgeBio Pharma during the 4th quarter worth approximately $205,000. Finally, Legato Capital Management LLC acquired a new stake in BridgeBio Pharma during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBIO. Citigroup increased their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. UBS Group increased their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They set a “buy” rating and a $50.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Piper Sandler increased their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.09.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $33.57, for a total transaction of $2,517,750.00. Following the transaction, the chief executive officer now directly owns 5,023,447 shares of the company’s stock, valued at approximately $168,637,115.79. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,475,682 shares of company stock worth $419,721,156 over the last ninety days. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Stock Up 1.1%

Shares of NASDAQ:BBIO opened at $33.34 on Friday. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -11.70 and a beta of 1.15. The company has a 50 day moving average of $34.50 and a two-hundred day moving average of $31.83. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same quarter last year, the business earned ($0.20) earnings per share. The business’s revenue for the quarter was down 44.8% compared to the same quarter last year. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.