BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,123 shares of the company’s stock after purchasing an additional 19,978 shares during the period. Principal Financial Group Inc. owned 0.61% of BridgeBio Pharma worth $29,155,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BBIO. Fernwood Investment Management LLC lifted its holdings in BridgeBio Pharma by 2.4% in the third quarter. Fernwood Investment Management LLC now owns 261,735 shares of the company’s stock valued at $6,664,000 after acquiring an additional 6,200 shares during the period. Emerald Advisers LLC raised its stake in shares of BridgeBio Pharma by 65.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock worth $28,095,000 after buying an additional 437,164 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings 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 valued at $19,129,000 after purchasing an additional 253,101 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in BridgeBio Pharma by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,165 shares of the company’s stock valued at $921,000 after buying an additional 14,181 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock worth $170,000 after purchasing an additional 1,214 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BBIO. Leerink Partners lowered their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average target price of $47.50.

Insider Activity

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,831,544 shares of company stock valued at $150,128,821. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of BBIO opened at $24.62 on Wednesday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The business’s fifty day moving average price is $25.98 and its 200 day moving average price is $26.45. The stock has a market capitalization of $4.63 billion, a PE ratio of -9.93 and a beta of 1.09.

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.