232,401 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Fisher Asset Management LLC

Fisher Asset Management LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, Holdings Channel.com reports. The fund bought 232,401 shares of the company’s stock, valued at approximately $17,776,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBIO. Invesco Ltd. grew its stake in BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after purchasing an additional 1,127,592 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of BridgeBio Pharma by 14,211.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after acquiring an additional 987,273 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $50,956,000. Wellington Management Group LLP boosted its position in shares of BridgeBio Pharma by 1,698.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock worth $52,937,000 after acquiring an additional 962,525 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of BridgeBio Pharma by 75.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,023 shares of the company’s stock worth $75,003,000 after acquiring an additional 622,618 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $66.44 on Thursday. BridgeBio Pharma, Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $84.94. The company has a market capitalization of $13.01 billion, a P/E ratio of -17.76 and a beta of 1.02. The stock has a 50-day simple moving average of $71.20 and a 200-day simple moving average of $72.05.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to analyst estimates of $178.07 million. During the same period in the prior year, the firm earned ($0.88) earnings per share. The business’s revenue was up 66.8% on a year-over-year basis. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BBIO shares. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Royal Bank Of Canada started coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They set an “outperform” rating and a $100.00 price objective for the company. Citigroup started coverage on BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and set a $106.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Finally, Morgan Stanley upped their price objective on BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average price target of $88.90.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 26,103 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $69.44, for a total value of $1,812,592.32. Following the completion of the sale, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at approximately $16,896,626.88. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at $23,376,345.52. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 236,675 shares of company stock worth $16,177,085. Corporate insiders own 14.23% of the company’s stock.

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.