Legato Capital Management LLC Purchases Shares of 7,670 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Legato Capital Management LLC purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,670 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after acquiring an additional 801 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of BridgeBio Pharma by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after acquiring an additional 1,214 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of BridgeBio Pharma by 56.1% in the 3rd 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 in the last quarter. CWM LLC grew its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth $57,000. Institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other 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 value of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,492,093 shares of company stock valued at $122,029,004 over the last three months. 24.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BBIO shares. Scotiabank upped their target price on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Evercore ISI increased their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.08.

BridgeBio Pharma Stock Up 10.6 %

NASDAQ BBIO opened at $34.90 on Friday. The company has a market cap of $6.60 billion, a PE ratio of -14.48 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $41.04. The firm’s 50-day simple moving average is $31.02 and its two-hundred day simple moving average is $27.52.

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.