Frazier Life Sciences Management L.P. Buys 40,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Frazier Life Sciences Management L.P. boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,800,457 shares of the company’s stock after buying an additional 40,000 shares during the period. BridgeBio Pharma comprises 4.3% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 9th largest holding. Frazier Life Sciences Management L.P. owned about 2.01% of BridgeBio Pharma worth $104,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBIO. Barclays PLC raised its holdings in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after buying an additional 131,743 shares during the period. Atomi Financial Group Inc. acquired a new position in BridgeBio Pharma in the fourth quarter worth approximately $392,000. China Universal Asset Management Co. Ltd. raised its position in BridgeBio Pharma by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,073 shares of the company’s stock valued at $1,100,000 after acquiring an additional 3,908 shares in the last quarter. Harvey Capital Management Inc. acquired a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $354,000. Finally, Legato Capital Management LLC acquired a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

BBIO has been the subject of a number of analyst reports. Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They issued a “buy” rating and a $50.00 target price for the company. Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, February 21st. HC Wainwright lifted their target price on shares of 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 lifted their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.09.

BridgeBio Pharma Trading Up 0.1%

Shares of BridgeBio Pharma stock opened at $33.71 on Wednesday. The firm has a fifty day simple moving average of $34.48 and a 200-day simple moving average of $31.72. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.54. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -11.83 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. BridgeBio Pharma’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 earned ($0.20) earnings per share. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,026 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,475,682 shares of company stock worth $419,721,156 in the last ninety days. 18.20% of the stock is currently owned by insiders.

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.