Primecap Management Co. CA Boosts Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Primecap Management Co. CA boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIOFree Report) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 944,000 shares of the company’s stock after acquiring an additional 5,300 shares during the quarter. Primecap Management Co. CA owned 0.54% of BridgeBio Pharma worth $38,109,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of BridgeBio Pharma during the third quarter valued at $37,434,000. Norges Bank bought a new stake in BridgeBio Pharma in the 4th quarter worth approximately $46,843,000. Northern Trust Corp raised its stake in BridgeBio Pharma by 2.2% during the 3rd quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock valued at $30,429,000 after buying an additional 24,643 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,220 shares of the company’s stock valued at $45,344,000 after buying an additional 66,945 shares during the period. Finally, UBS Group AG lifted its holdings in shares of BridgeBio Pharma by 545.9% during the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after buying an additional 832,940 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

BBIO traded up $0.18 during trading on Friday, hitting $27.94. 980,432 shares of the company traded hands, compared to its average volume of 1,481,865. The stock’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $32.09. BridgeBio Pharma, Inc. has a 1 year low of $12.75 and a 1 year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.35. The firm had revenue of $211.12 million during the quarter, compared to the consensus estimate of $140.06 million. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $221,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBIO. HC Wainwright reduced their price objective on BridgeBio Pharma from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Evercore ISI assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective on the stock. Citigroup increased their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Cantor Fitzgerald lifted their target price on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

Check Out Our Latest Stock Report on BridgeBio Pharma

BridgeBio Pharma Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BridgeBio Pharma (NASDAQ:BBIO)

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