NEOS Investment Management LLC Has $3.90 Million Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

NEOS Investment Management LLC boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,972 shares of the company’s stock after purchasing an additional 29,896 shares during the quarter. NEOS Investment Management LLC’s holdings in BridgeBio Pharma were worth $3,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 buying an additional 472 shares during the last quarter. Advisors Asset Management Inc. increased its position 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 during the period. Avanza Fonder AB acquired a new position in BridgeBio Pharma during the 4th quarter valued at $181,000. First Bank & Trust bought a new stake in BridgeBio Pharma in the 4th quarter valued at $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in BridgeBio Pharma in the 4th quarter worth $208,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $36.40 on Friday. The business has a fifty day moving average of $34.24 and a two-hundred day moving average of $29.26. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47. The stock has a market cap of $6.92 billion, a PE ratio of -12.77 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced 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 for the quarter, compared to analysts’ expectations of $4.04 million. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 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 value 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 approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, 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 9,654,739 shares of company stock valued at $325,937,151 in the last three months. 24.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BBIO has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Scotiabank upped 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. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. Evercore ISI upped their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.90.

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.