BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Sphera Funds Management LTD.

Sphera Funds Management LTD. lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,279 shares of the company’s stock after acquiring an additional 62,635 shares during the quarter. BridgeBio Pharma makes up 4.5% of Sphera Funds Management LTD.’s holdings, making the stock its 2nd biggest holding. Sphera Funds Management LTD. owned about 0.48% of BridgeBio Pharma worth $24,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth $41,000. Sterling Capital Management LLC increased its position in shares of BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after buying an additional 1,514 shares during the period. Avanza Fonder AB bought a new position in BridgeBio Pharma during the fourth quarter worth $181,000. Finally, First Bank & Trust acquired a new position in BridgeBio Pharma in the fourth quarter valued at $205,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 0.2%

NASDAQ BBIO opened at $33.74 on Friday. The company has a market cap of $6.41 billion, a P/E ratio of -11.84 and a beta of 1.15. The company has a fifty day simple moving average of $34.40 and a 200 day simple moving average of $31.47. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. The firm’s quarterly revenue was down 44.8% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. Sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BBIO. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 target price for the company. Piper Sandler lifted their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. UBS Group increased their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $57.09.

Insider Activity at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 1,026 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the transaction, the chief accounting officer now owns 147,639 shares of the company’s stock, valued at $5,685,577.89. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 31,543 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total value of $1,139,964.02. Following the sale, the chief executive officer now owns 211,718 shares of the company’s stock, valued at $7,651,488.52. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,410,217 shares of company stock valued at $417,634,332. 18.20% of the stock is owned by corporate 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.