BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 23.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 737,367 shares of the company’s stock after purchasing an additional 139,104 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.39% of BridgeBio Pharma worth $18,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BBIO. Intech Investment Management LLC acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter worth $1,136,000. Advisors Asset Management Inc. increased its position in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in BridgeBio Pharma during the third quarter worth about $309,000. Jennison Associates LLC acquired a new position in BridgeBio Pharma in the 3rd quarter valued at about $767,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $932,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred on 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock worth $150,056,923 in the last quarter. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Trading Up 16.1 %

BridgeBio Pharma stock opened at $27.19 on Tuesday. The firm has a market capitalization of $5.14 billion, a P/E ratio of -11.28 and a beta of 1.09. The stock’s fifty day simple moving average is $24.98 and its 200-day simple moving average is $26.23. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent analyst reports. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Bank of America upped their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank raised their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

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.