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

Principal Financial Group Inc. boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund 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 approximately 0.61% of BridgeBio Pharma worth $29,155,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BBIO. Bfsg LLC increased its position in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Headlands Technologies LLC purchased a new position in shares of BridgeBio Pharma in the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC raised its stake in shares of BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of 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 period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 2.7 %

Shares of BBIO opened at $28.53 on Wednesday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The stock has a market cap of $5.39 billion, a P/E ratio of -11.84 and a beta of 1.08. The company has a 50-day moving average of $25.83 and a two-hundred day moving average of $26.06.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler initiated coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective on the stock. Oppenheimer started coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. Finally, Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the company’s 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 transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.66% of the company’s stock.

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.