State of New Jersey Common Pension Fund D Acquires 9,225 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

State of New Jersey Common Pension Fund D lifted its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,586 shares of the company’s stock after buying an additional 9,225 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BridgeBio Pharma were worth $1,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares during the last quarter. Fernwood Investment Management LLC boosted its stake in shares of BridgeBio Pharma by 2.4% during the 3rd quarter. Fernwood Investment Management LLC now owns 261,735 shares of the company’s stock worth $6,664,000 after purchasing an additional 6,200 shares during the period. Emerald Advisers LLC boosted 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 purchasing an additional 437,164 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of BridgeBio Pharma by 50.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock worth $19,129,000 after purchasing an additional 253,101 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 worth $921,000 after purchasing an additional 14,181 shares during the period. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $23.72 on Monday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The firm has a market cap of $4.48 billion, a P/E ratio of -9.84 and a beta of 1.09. The firm has a 50-day simple moving average of $25.50 and a 200-day simple moving average of $26.41.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBIO. 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 note on Wednesday, August 7th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $47.57.

Insider Buying and Selling

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 24.66% of the stock is currently owned by company insiders.

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.