Janus Henderson Group PLC Grows Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Janus Henderson Group PLC lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 189.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,312,706 shares of the company’s stock after purchasing an additional 2,169,143 shares during the period. Janus Henderson Group PLC’s holdings in BridgeBio Pharma were worth $102,402,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after acquiring an additional 1,524,313 shares during the period. Norges Bank purchased a new position in BridgeBio Pharma during the 4th quarter worth $46,843,000. Capital Research Global Investors increased its holdings in BridgeBio Pharma by 101.1% during the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after purchasing an additional 1,111,975 shares during the period. UBS Group AG raised its position in BridgeBio Pharma by 545.9% during the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after purchasing an additional 832,940 shares in the last quarter. Finally, Altitude Crest Partners Inc. purchased a new stake in shares of BridgeBio Pharma in the 4th quarter worth $30,462,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI initiated coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Thursday, June 20th. UBS Group cut their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Bank of America dropped their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, July 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $48.73.

BridgeBio Pharma Trading Up 1.2 %

BBIO traded up $0.31 on Wednesday, reaching $26.25. The stock had a trading volume of 188,828 shares, compared to its average volume of 1,804,582. The business’s 50-day moving average price is $26.87 and its two-hundred day moving average price is $29.52. The company has a market cap of $4.91 billion, a P/E ratio of -8.06 and a beta of 1.06. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.35. The business had revenue of $211.12 million during the quarter, compared to analysts’ expectations of $140.06 million. As a group, analysts predict that BridgeBio Pharma, Inc. will post -3.2 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $158,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 24.66% of the company’s stock.

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.