Ironwood Investment Management LLC Buys 338 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Ironwood Investment Management LLC grew its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 63,157 shares of the company’s stock after buying an additional 338 shares during the quarter. Ironwood Investment Management LLC’s holdings in BridgeBio Pharma were worth $1,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State of New Jersey Common Pension Fund D grew its stake in BridgeBio Pharma by 13.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 76,586 shares of the company’s stock valued at $1,950,000 after buying an additional 9,225 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $3,105,000. Mizuho Markets Americas LLC increased its stake in shares of BridgeBio Pharma by 3.8% in the third quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company’s stock worth $2,220,000 after purchasing an additional 3,198 shares during the period. Swiss National Bank increased its stake in shares of BridgeBio Pharma by 1.1% in the third quarter. Swiss National Bank now owns 219,300 shares of the company’s stock worth $5,583,000 after purchasing an additional 2,400 shares during the period. Finally, Quest Partners LLC lifted its position in shares of BridgeBio Pharma by 134.0% during the 3rd quarter. Quest Partners LLC now owns 31,173 shares of the company’s stock worth $794,000 after purchasing an additional 17,849 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 2.0 %

NASDAQ BBIO opened at $32.97 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.47. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -11.57 and a beta of 1.07. The stock’s 50 day moving average is $33.62 and its two-hundred day moving average is $28.82.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on BBIO shares. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank increased their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Insider Activity

In related news, CFO Brian C. Stephenson sold 68,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,579,739 shares of company stock worth $323,171,901. Corporate insiders own 24.66% of the company’s stock.

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.