44,623 Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 44,623 shares of the company’s stock, valued at approximately $1,136,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBIO. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after buying an additional 145,594 shares during the period. California State Teachers Retirement System raised its holdings in BridgeBio Pharma by 7.3% during the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock worth $3,265,000 after purchasing an additional 7,153 shares during the last quarter. Comerica Bank lifted its position in BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after purchasing an additional 37,277 shares during the period. Transcend Capital Advisors LLC acquired a new position in BridgeBio Pharma during the 2nd quarter valued at about $342,000. Finally, Diversified Trust Co boosted its stake in shares of BridgeBio Pharma by 28.9% in the 2nd quarter. Diversified Trust Co now owns 35,713 shares of the company’s stock valued at $905,000 after purchasing an additional 8,011 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 over the last three months. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Trading Up 4.0 %

Shares of NASDAQ BBIO opened at $27.49 on Thursday. The company has a fifty day moving average price of $25.00 and a 200 day moving average price of $26.22. The firm has a market cap of $5.20 billion, a PE ratio of -11.41 and a beta of 1.09. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BBIO shares. JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Piper Sandler assumed coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target on the stock. Evercore ISI decreased their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Leerink Partners cut their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, HC Wainwright boosted their target price on BridgeBio Pharma from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

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.