Janus Henderson Group PLC Boosts Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Janus Henderson Group PLC grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,907,533 shares of the company’s stock after purchasing an additional 89,521 shares during the period. Janus Henderson Group PLC’s holdings in BridgeBio Pharma were worth $134,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BBIO. Steward Partners Investment Advisory LLC grew its position in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the period. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma in the fourth quarter worth approximately $41,000. Sterling Capital Management LLC grew its position in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares during the period. Avanza Fonder AB purchased a new position in BridgeBio Pharma in the fourth quarter worth approximately $181,000. Finally, First Bank & Trust purchased a new position in BridgeBio Pharma in the fourth quarter worth approximately $205,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BBIO. HC Wainwright increased their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Redburn Atlantic initiated coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 price target on the stock. UBS Group upped their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler upped their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.09.

BridgeBio Pharma Trading Up 4.4%

Shares of NASDAQ BBIO opened at $35.68 on Tuesday. The stock has a market cap of $6.77 billion, a P/E ratio of -12.52 and a beta of 1.15. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.54. The business’s fifty day simple moving average is $34.29 and its 200-day simple moving average is $31.38.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. The firm’s revenue was down 44.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity

In other news, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the sale, the chief accounting officer now directly owns 147,639 shares in the company, valued at approximately $5,685,577.89. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at $408,600. This trade represents a 71.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,410,217 shares of company stock worth $212,434,332. Corporate insiders own 24.66% of the company’s stock.

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.