Avanza Fonder AB Has $212,000 Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Avanza Fonder AB decreased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,121 shares of the company’s stock after selling 460 shares during the quarter. Avanza Fonder AB’s holdings in BridgeBio Pharma were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in 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 during the last quarter. GAMMA Investing LLC boosted its stake in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after acquiring an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC grew its holdings in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $109,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 1.5%

NASDAQ:BBIO opened at $39.65 on Friday. The company has a market cap of $7.53 billion, a P/E ratio of -13.91 and a beta of 1.10. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $40.40. The business has a 50 day moving average price of $35.10 and a two-hundred day moving average price of $33.00.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate 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. The business’s revenue for the quarter was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 26,156 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $33.33, for a total value of $871,779.48. Following the completion of the sale, the chief executive officer now owns 217,404 shares of the company’s stock, valued at approximately $7,246,075.32. This represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $408,600. This represents a 71.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,396,474 shares of company stock valued at $219,332,971 in the last three months. 18.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. HC Wainwright raised their price objective on BridgeBio Pharma from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday. Scotiabank boosted their target price on BridgeBio Pharma from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Wall Street Zen raised BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, June 7th. Finally, Piper Sandler raised 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.36.

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.