Frazier Life Sciences Management L.P. Increases Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Frazier Life Sciences Management L.P. raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,800,457 shares of the company’s stock after buying an additional 40,000 shares during the quarter. BridgeBio Pharma accounts for approximately 4.3% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 9th biggest holding. Frazier Life Sciences Management L.P.’s holdings in BridgeBio Pharma were worth $104,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of BridgeBio Pharma by 28.6% in the 4th quarter. Teacher Retirement System of Texas now owns 36,208 shares of the company’s stock worth $994,000 after purchasing an additional 8,048 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of BridgeBio Pharma by 2.8% in the 4th quarter. Legal & General Group Plc now owns 134,038 shares of the company’s stock worth $3,678,000 after purchasing an additional 3,706 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of BridgeBio Pharma by 9.6% in the 4th quarter. American Century Companies Inc. now owns 1,015,728 shares of the company’s stock worth $27,872,000 after purchasing an additional 88,882 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BBIO shares. UBS Group upped their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They issued a “buy” rating and a $50.00 target price on the stock. Piper Sandler upped their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Scotiabank increased their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Finally, Citigroup increased their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.09.

BridgeBio Pharma Stock Up 0.1%

Shares of NASDAQ:BBIO opened at $33.71 on Wednesday. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54. The firm has a market cap of $6.40 billion, a P/E ratio of -11.83 and a beta of 1.15. The company’s 50-day moving average price is $34.48 and its two-hundred day moving average price is $31.72.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted ($0.20) earnings per share. The business’s revenue for the quarter was down 44.8% on a year-over-year basis. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the sale, the chief executive officer now directly owns 4,798,447 shares in the company, valued at $160,268,129.80. This trade represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,475,682 shares of company stock worth $419,721,156. Company insiders own 18.20% of the company’s stock.

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.