Certuity LLC Invests $258,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Certuity LLC purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,400 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in BridgeBio Pharma during the third quarter worth approximately $37,434,000. Northern Trust Corp lifted its holdings in BridgeBio Pharma by 2.2% during the 3rd quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock worth $30,429,000 after purchasing an additional 24,643 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BridgeBio Pharma by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,056,275 shares of the company’s stock valued at $27,854,000 after purchasing an additional 93,324 shares during the period. Primecap Management Co. CA grew its holdings in BridgeBio Pharma by 34.9% in the 3rd quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock valued at $24,754,000 after buying an additional 242,608 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in BridgeBio Pharma in the 3rd quarter worth about $20,949,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 5.5 %

Shares of BBIO stock opened at $27.03 on Thursday. The stock has a 50-day moving average of $28.83 and a 200-day moving average of $31.76. BridgeBio Pharma, Inc. has a 1-year low of $12.75 and a 1-year high of $44.32. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -6.86 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. During the same period in the previous year, the business posted ($0.92) EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the sale, the director now directly owns 6,500 shares in the company, valued at $221,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.52% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. Cantor Fitzgerald boosted their target price on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Mizuho reduced their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective on the stock. Finally, Citigroup raised their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.82.

About BridgeBio Pharma

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.