25,235 Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,235 shares of the company’s stock, valued at approximately $692,000.

A number of other hedge funds also recently made changes to their positions in the company. Ironwood Investment Management LLC grew its holdings in BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after buying an additional 338 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position 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 purchasing an additional 472 shares during the last quarter. Xponance Inc. increased its position in BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock worth $277,000 after purchasing an additional 844 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in BridgeBio Pharma by 7.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company’s stock valued at $521,000 after purchasing an additional 1,275 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its position in BridgeBio Pharma by 13.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,785 shares of the company’s stock valued at $488,000 after purchasing an additional 2,151 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Down 4.5 %

Shares of BBIO opened at $33.02 on Wednesday. The firm has a fifty day moving average price of $34.22 and a 200-day moving average price of $29.39. The firm has a market capitalization of $6.28 billion, a P/E ratio of -11.59 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.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup increased their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $52.64.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the 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 transaction, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This represents a 23.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,654,739 shares of company stock worth $325,937,151 in the last ninety days. 24.66% of the stock is 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.