Ensign Peak Advisors Inc Grows Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Ensign Peak Advisors Inc boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,975,249 shares of the company’s stock after buying an additional 89,495 shares during the quarter. Ensign Peak Advisors Inc’s holdings in BridgeBio Pharma were worth $54,201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company’s stock worth $413,738,000 after buying an additional 879,059 shares during the last quarter. Farallon Capital Management LLC increased its holdings in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company’s stock valued at $115,111,000 after acquiring an additional 2,448,000 shares in the last quarter. Capital Research Global Investors raised its position in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company’s stock worth $96,774,000 after acquiring an additional 912,439 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of BridgeBio Pharma by 23.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company’s stock valued at $51,746,000 after purchasing an additional 353,570 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of BridgeBio Pharma by 3.4% in the fourth quarter. Northern Trust Corp now owns 1,323,258 shares of the company’s stock valued at $36,310,000 after purchasing an additional 43,955 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

BBIO opened at $34.17 on Friday. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of -11.99 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 has a 50-day moving average of $34.27 and a two-hundred day moving average of $31.20.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million during the quarter, compared to analysts’ expectations 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 firm posted ($0.20) earnings per share. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Lo sold 100,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the transaction, the director now directly owns 105,583 shares in the company, valued at approximately $4,064,945.50. This trade represents a 48.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,410,217 shares of company stock worth $212,434,332 in the last ninety days. Insiders own 24.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BBIO. Citigroup lifted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. HC Wainwright boosted their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank lifted their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler upped their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.09.

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.