Wellington Management Group LLP Grows Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,495,114 shares of the company’s stock after acquiring an additional 75,564 shares during the period. Wellington Management Group LLP’s holdings in BridgeBio Pharma were worth $60,358,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BBIO. Quarry LP bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $50,000. Assetmark Inc. raised its stake in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in BridgeBio Pharma in the third quarter worth about $132,000. Caxton Associates LP purchased a new position in BridgeBio Pharma in the third quarter valued at about $207,000. Finally, Sargent Investment Group LLC bought a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $213,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBIO has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a report on Tuesday, May 28th. Mizuho lowered their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Finally, Raymond James began coverage on BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price target for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $47.62.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $27.36 on Friday. The company has a market capitalization of $5.12 billion, a PE ratio of -8.50 and a beta of 1.08. BridgeBio Pharma, Inc. has a 52-week low of $15.35 and a 52-week high of $44.32. The business’s fifty day moving average is $27.48 and its 200 day moving average is $31.89.

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 the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.2 EPS for the current fiscal 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 shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.66% of the stock is currently owned by company insiders.

BridgeBio Pharma 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.