E Fund Management Co. Ltd. Acquires 2,151 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

E Fund Management Co. Ltd. boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,785 shares of the company’s stock after acquiring an additional 2,151 shares during the period. E Fund Management Co. Ltd.’s holdings in BridgeBio Pharma were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBIO. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after acquiring an additional 1,645 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $181,000. First Bank & Trust bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $205,000. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $208,000. 99.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the business’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 transaction, the chief executive officer now owns 5,371,515 shares of the company’s stock, valued at $194,932,279.35. The trade was 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 through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the transaction, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. 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 currently owned by insiders.

BridgeBio Pharma Stock Performance

BBIO opened at $31.57 on Friday. The business’s 50-day simple moving average is $33.16 and its 200 day simple moving average is $28.58. The firm has a market capitalization of $6.00 billion, a PE ratio of -11.08 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.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share 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 analysts’ expectations of $4.04 million. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BBIO shares. Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Scotiabank boosted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Bank of America boosted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

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.