BridgeBio Pharma, Inc. $BBIO Shares Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP lifted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 284,682 shares of the company’s stock after purchasing an additional 13,052 shares during the quarter. BridgeBio Pharma comprises about 1.6% of Nicholas Investment Partners LP’s holdings, making the stock its 9th biggest holding. Nicholas Investment Partners LP owned approximately 0.15% of BridgeBio Pharma worth $21,775,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of BridgeBio Pharma by 861.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $43,000 after purchasing an additional 508 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $44,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of BridgeBio Pharma in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. William Blair assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating for the company. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 target price on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Citigroup assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They set a “neutral” rating and a $82.00 target price for the company. Finally, Truist Financial increased their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Twenty-three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $89.59.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. This trade represents a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares in the company, valued at approximately $23,376,345.52. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 171,754 shares of company stock worth $11,914,859. 14.23% of the stock is owned by company insiders.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $66.80 on Friday. The firm has a 50 day simple moving average of $70.22 and a 200-day simple moving average of $72.11. BridgeBio Pharma, Inc. has a one year low of $38.57 and a one year high of $84.94. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of -17.86 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. The business’s revenue for the quarter was up 66.8% on a year-over-year basis. Equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.