Allspring Global Investments Holdings LLC Boosts Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Allspring Global Investments Holdings LLC raised its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.7% in the 3rd quarter, Holdings Channel reports. The firm owned 5,322 shares of the company’s stock after purchasing an additional 801 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BridgeBio Pharma were worth $135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bfsg LLC raised its holdings in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma during the second quarter worth about $48,000. CWM LLC grew 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 acquiring an additional 1,964 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma during the first quarter worth about $117,000. Finally, Amalgamated Bank grew its stake in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Down 1.1 %

Shares of NASDAQ:BBIO opened at $25.20 on Tuesday. The business has a fifty day moving average of $25.98 and a two-hundred day moving average of $26.41. The stock has a market cap of $4.74 billion, a P/E ratio of -9.58 and a beta of 1.09. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32.

Analyst Upgrades and Downgrades

BBIO has been the topic of a number of research analyst reports. Bank of America restated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Evercore ISI dropped their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank assumed coverage on BridgeBio Pharma in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $44.00 price target for the company. Finally, Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The stock was 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 directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This 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 this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by company insiders.

BridgeBio Pharma 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.