Moss Adams Wealth Advisors LLC Makes New $208,000 Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Moss Adams Wealth Advisors LLC bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,577 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its position 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 purchasing an additional 505,481 shares during the period. Frazier Life Sciences Management L.P. grew its stake in shares of BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock valued at $95,741,000 after buying an additional 127,853 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after buying an additional 123,540 shares during the period. Ensign Peak Advisors Inc lifted its position in BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after acquiring an additional 506,845 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in BridgeBio Pharma by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after acquiring an additional 442,248 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent research reports. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Leerink Partners decreased their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Bank of America raised their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Oppenheimer started coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $33.79 on Monday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $41.04. The business’s fifty day moving average price is $27.67 and its 200 day moving average price is $26.53. The stock has a market capitalization of $6.39 billion, a PE ratio of -14.02 and a beta of 1.05.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

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.