Emerald Advisers LLC Purchases 437,164 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Emerald Advisers LLC increased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 65.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,103,508 shares of the company’s stock after acquiring an additional 437,164 shares during the period. Emerald Advisers LLC’s holdings in BridgeBio Pharma were worth $28,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bfsg LLC boosted its stake in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma in the second quarter valued at about $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma during the 3rd quarter worth about $57,000. CWM LLC increased its position in BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after acquiring an additional 1,964 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of BridgeBio Pharma in the first quarter worth about $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 over the last quarter. 24.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on BBIO shares. JPMorgan Chase & Co. decreased their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research note on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, Piper Sandler started coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded up $2.07 during trading hours on Friday, hitting $25.48. The company’s stock had a trading volume of 1,979,732 shares, compared to its average volume of 1,847,959. The company has a market capitalization of $4.79 billion, a PE ratio of -9.69 and a beta of 1.09. The stock has a 50 day moving average of $26.00 and a 200 day moving average of $26.40. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. BridgeBio Pharma’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.98) earnings per share. Equities analysts expect that BridgeBio Pharma, Inc. will post -2.59 EPS for the current year.

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.