BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 11.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 41,259 shares of the company’s stock after buying an additional 4,317 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in BridgeBio Pharma were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at approximately $383,000. Algert Global LLC lifted its position in shares of BridgeBio Pharma by 144.3% in the 3rd quarter. Algert Global LLC now owns 136,447 shares of the company’s stock worth $3,474,000 after buying an additional 80,599 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BridgeBio Pharma by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after buying an additional 95,605 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of BridgeBio Pharma by 23.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,367 shares of the company’s stock valued at $18,773,000 after buying an additional 139,104 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in BridgeBio Pharma in the third quarter worth about $1,136,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. Corporate insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BBIO. Leerink Partners lowered their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. HC Wainwright raised 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, November 25th. Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.

BridgeBio Pharma Price Performance

BBIO opened at $28.79 on Monday. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $44.32. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -11.95 and a beta of 1.08. The business has a 50 day moving average price of $25.25 and a two-hundred day moving average price of $26.07.

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.