Primecap Management Co. CA Buys 8,776 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Primecap Management Co. CA lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 915,500 shares of the company’s stock after acquiring an additional 8,776 shares during the period. Primecap Management Co. CA owned 0.48% of BridgeBio Pharma worth $25,121,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised 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 in the last quarter. Advisors Asset Management Inc. increased its position in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the period. Avanza Fonder AB bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $181,000. First Bank & Trust bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new position in BridgeBio Pharma in the 4th quarter worth approximately $208,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $33.75 on Thursday. The stock’s fifty day simple moving average is $33.87 and its 200 day simple moving average is $29.00. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of -11.84 and a beta of 1.07. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America lifted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Finally, Scotiabank lifted their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, 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 stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,579,739 shares of company stock valued at $323,171,901 in the last 90 days. 24.66% of the stock is owned by corporate insiders.

BridgeBio Pharma Company 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.