Harvey Capital Management Inc. Invests $354,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Harvey Capital Management Inc. bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,900 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBIO. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares during the period. Emerald Advisers LLC lifted its position in BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after buying an additional 437,164 shares in the last quarter. First Turn Management LLC purchased a new stake in BridgeBio Pharma during the third quarter worth approximately $10,178,000. Emerald Mutual Fund Advisers Trust increased its position in shares of BridgeBio Pharma by 50.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock worth $19,129,000 after acquiring an additional 253,101 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $3,497,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of research reports. Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Monday, December 16th. Scotiabank raised their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Leerink Partners lowered 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. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,492,093 shares of company stock valued at $122,029,004. Insiders own 24.66% of the company’s stock.

BridgeBio Pharma Trading Down 2.0 %

Shares of NASDAQ:BBIO opened at $31.12 on Wednesday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $41.04. The firm has a market cap of $5.88 billion, a PE ratio of -12.91 and a beta of 1.07. The company has a fifty day simple moving average of $30.83 and a 200 day simple moving average of $27.46.

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.