Royce & Associates LP Purchases 22,833 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Royce & Associates LP increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,788 shares of the company’s stock after acquiring an additional 22,833 shares during the quarter. Royce & Associates LP owned 0.08% of BridgeBio Pharma worth $3,973,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 85.8% in 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 in the last quarter. Advisors Asset Management Inc. increased its stake in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $181,000. First Bank & Trust bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $208,000. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $33.57, for a total value of $2,517,750.00. Following the sale, the chief executive officer now directly owns 5,023,447 shares in the company, valued at approximately $168,637,115.79. The trade was a 1.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,579,739 shares of company stock worth $323,171,901 in the last ninety days. Company insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

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

BridgeBio Pharma Price Performance

BBIO opened at $33.75 on Thursday. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -11.84 and a beta of 1.07. The firm’s fifty day moving average price is $33.87 and its two-hundred day moving average price is $29.00. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

BridgeBio Pharma Company 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.