Swiss National Bank Acquires 2,400 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Swiss National Bank increased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 219,300 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Swiss National Bank’s holdings in BridgeBio Pharma were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mizuho Markets Americas LLC lifted its holdings in BridgeBio Pharma by 3.8% during the third quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company’s stock worth $2,220,000 after acquiring an additional 3,198 shares during the period. Royce & Associates LP bought a new stake in BridgeBio Pharma during the third quarter worth $3,105,000. WCM Investment Management LLC lifted its holdings in BridgeBio Pharma by 49.2% during the third quarter. WCM Investment Management LLC now owns 263,679 shares of the company’s stock worth $6,576,000 after acquiring an additional 86,987 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in BridgeBio Pharma by 13.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 76,586 shares of the company’s stock worth $1,950,000 after acquiring an additional 9,225 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of BridgeBio Pharma by 1.8% in the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after buying an additional 19,978 shares during the period. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Stock Up 4.0 %

BridgeBio Pharma stock opened at $27.49 on Thursday. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32. The business has a 50-day simple moving average of $25.00 and a 200 day simple moving average of $26.22. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09.

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 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 completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 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 $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 trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,545 shares of company stock worth $150,056,923 over the last ninety days. 24.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BBIO shares. JPMorgan Chase & Co. lowered their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright boosted their target price on BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank boosted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday. Evercore ISI lowered their target price 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. Finally, Bank of America boosted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.