BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lifted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,975 shares of the company’s stock after purchasing an additional 1,275 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in BridgeBio Pharma were worth $521,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in BridgeBio Pharma in the third quarter valued at approximately $3,497,000. Massachusetts Financial Services Co. MA raised its holdings in BridgeBio Pharma by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 737,367 shares of the company’s stock valued at $18,773,000 after acquiring an additional 139,104 shares in the last quarter. Exome Asset Management LLC raised its holdings in BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after acquiring an additional 132,093 shares in the last quarter. Finally, Barclays PLC raised its holdings in BridgeBio Pharma by 31.9% during the third quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after purchasing an additional 131,743 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBIO. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Citigroup raised their target price 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. HC Wainwright restated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. Finally, Evercore ISI lifted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

BridgeBio Pharma Stock Up 4.8 %

Shares of BBIO opened at $33.75 on Thursday. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of -11.84 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47. The business’s 50 day moving average is $33.87 and its two-hundred day moving average is $29.00.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (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, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

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.