Janus Henderson Group PLC Acquires 2,169,143 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Janus Henderson Group PLC boosted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 189.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,312,706 shares of the company’s stock after purchasing an additional 2,169,143 shares during the period. Janus Henderson Group PLC owned about 1.77% of BridgeBio Pharma worth $102,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBIO. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after acquiring an additional 1,524,313 shares in the last quarter. Norges Bank bought a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $46,843,000. Capital Research Global Investors raised its stake in shares of BridgeBio Pharma by 101.1% during the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after purchasing an additional 1,111,975 shares in the last quarter. UBS Group AG boosted its holdings in shares of BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after buying an additional 832,940 shares during the last quarter. Finally, Altitude Crest Partners Inc. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at $30,462,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, July 1st. Evercore ISI started coverage on BridgeBio Pharma in a report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 price target for the company. Bank of America dropped their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. HC Wainwright reiterated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research note on Thursday, June 20th. Finally, UBS Group dropped their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Buy” and an average price target of $48.73.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $0.31 during mid-day trading on Wednesday, reaching $26.25. 188,828 shares of the company’s stock were exchanged, compared to its average volume of 1,804,582. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The business’s fifty day simple moving average is $26.87 and its two-hundred day simple moving average is $29.52. The firm has a market capitalization of $4.91 billion, a PE ratio of -8.06 and a beta of 1.06.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 1,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total transaction of $28,840.00. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 24.66% of the company’s stock.

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.