Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 25.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 31,530 shares of the company’s stock after buying an additional 6,466 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BridgeBio Pharma were worth $865,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BBIO. Steward Partners Investment Advisory LLC lifted its stake in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the period. Advisors Asset Management Inc. raised its holdings in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of BridgeBio Pharma in the 4th quarter worth about $181,000. First Bank & Trust bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at about $205,000. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $208,000. 99.85% of the stock is currently owned by institutional investors.

Insider Activity

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,148 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.16, for a total value of $149,991.68. Following the transaction, the chief financial officer now directly owns 102,464 shares of the company’s stock, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,579,739 shares of company stock valued at $323,171,901 over the last three months. Insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BBIO shares. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Citigroup lifted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Scotiabank increased their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday, February 21st. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.55.

BridgeBio Pharma Trading Up 0.5 %

BridgeBio Pharma stock opened at $33.91 on Friday. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of -11.90 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47. The stock has a fifty day simple moving average of $33.96 and a two-hundred day simple moving average of $29.03.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS 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.