13,155 Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,155 shares of the company’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds have also bought and sold shares of BBIO. Royce & Associates LP boosted its holdings in shares of BridgeBio Pharma by 18.7% in the fourth quarter. Royce & Associates LP now owns 144,788 shares of the company’s stock worth $3,973,000 after buying an additional 22,833 shares during the last quarter. Monimus Capital Management LP bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $1,127,000. Ironwood Investment Management LLC grew its position in shares of BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after acquiring an additional 338 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of BridgeBio Pharma by 37.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 41,514 shares of the company’s stock valued at $1,134,000 after acquiring an additional 11,325 shares during the period. Finally, Swiss National Bank increased its stake in shares of BridgeBio Pharma by 9.6% in the 4th quarter. Swiss National Bank now owns 240,300 shares of the company’s stock worth $6,594,000 after purchasing an additional 21,000 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BBIO shares. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI lifted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

BridgeBio Pharma Trading Up 7.0 %

Shares of BBIO stock opened at $37.22 on Tuesday. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -13.06 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47. The stock’s 50-day moving average price is $34.15 and its 200-day moving average price is $29.12.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. 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 over 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.