Nicholas Investment Partners LP Has $1.64 Million Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Nicholas Investment Partners LP boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 68.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,892 shares of the company’s stock after acquiring an additional 24,248 shares during the quarter. Nicholas Investment Partners LP’s holdings in BridgeBio Pharma were worth $1,643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBIO. Barclays PLC lifted its stake in shares of BridgeBio Pharma by 31.9% in the third quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after buying an additional 131,743 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after acquiring an additional 19,978 shares during the last quarter. Avanza Fonder AB bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at about $181,000. Moss Adams Wealth Advisors LLC bought a new position in BridgeBio Pharma during the 4th quarter valued at approximately $208,000. Finally, Atomi Financial Group Inc. purchased a new position in BridgeBio Pharma in the 4th quarter worth about $392,000. Institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In related news, 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 stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Lo sold 100,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the transaction, the director now owns 105,583 shares in the company, valued at $4,064,945.50. The trade was a 48.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,410,217 shares of company stock valued at $212,434,332 over the last 90 days. Company insiders own 18.20% of the company’s stock.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. HC Wainwright lifted their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. Piper Sandler increased their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, UBS Group lifted their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. One 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, the company presently has an average rating of “Moderate Buy” and an average price target of $57.09.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $33.26 on Wednesday. The firm has a market capitalization of $6.32 billion, a P/E ratio of -11.67 and a beta of 1.15. The company’s 50 day simple moving average is $34.31 and its 200 day simple moving average is $31.39. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same period last year, the firm earned ($0.20) EPS. BridgeBio Pharma’s quarterly revenue was down 44.8% compared to the same quarter last year. Sell-side analysts expect 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.