BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,128 shares of the company’s stock after acquiring an additional 1,008 shares during the period. Rhumbline Advisers owned 0.12% of BridgeBio Pharma worth $7,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in BridgeBio Pharma by 5,811.5% in the 1st quarter. GAMMA Investing LLC now owns 31,804 shares of the company’s stock valued at $1,099,000 after acquiring an additional 31,266 shares during the last quarter. California State Teachers Retirement System grew its stake in BridgeBio Pharma by 6.8% in the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock valued at $3,174,000 after acquiring an additional 7,388 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in BridgeBio Pharma in the 4th quarter valued at about $5,076,000. Mackenzie Financial Corp grew its stake in BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after acquiring an additional 592 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in BridgeBio Pharma in the 4th quarter valued at about $109,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBIO has been the topic of several analyst reports. UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Wall Street Zen raised shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Finally, HC Wainwright raised their price target on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.36.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the transaction, the chief executive officer now owns 4,798,447 shares in the company, valued at approximately $160,268,129.80. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $408,600. The trade was a 71.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,392,182 shares of company stock worth $219,161,291. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $40.09 on Wednesday. The firm has a market cap of $7.61 billion, a P/E ratio of -14.07 and a beta of 1.10. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $40.40. The firm’s 50-day simple moving average is $34.76 and its 200-day simple moving average is $32.87.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analysts’ expectations of $57.14 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The company’s revenue was down 44.8% on a year-over-year basis. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.