Tocqueville Asset Management L.P. Boosts Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Tocqueville Asset Management L.P. boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,975 shares of the company’s stock after buying an additional 1,275 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in BridgeBio Pharma were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of BridgeBio Pharma by 3.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after purchasing an additional 127,853 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after purchasing an additional 123,540 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of BridgeBio Pharma by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company’s stock valued at $35,858,000 after purchasing an additional 21,963 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BBIO shares. Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Scotiabank lifted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $51.55.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the completion of the transaction, the chief financial officer now owns 102,464 shares of the company’s stock, valued at $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,579,739 shares of company stock valued at $323,171,901. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Stock Up 4.8 %

Shares of BBIO opened at $33.75 on Thursday. The firm’s fifty day moving average is $33.87 and its two-hundred day moving average is $29.00. The stock has a market cap of $6.42 billion, a PE ratio of -11.84 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. As a group, research 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.