Intech Investment Management LLC Makes New $1.14 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

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

Several other institutional investors and hedge funds have also modified their holdings of the business. Profund Advisors LLC raised its holdings in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after buying an additional 555 shares in the last quarter. Bfsg LLC raised its stake in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the last quarter. Amalgamated Bank boosted its position in 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 purchasing an additional 962 shares during the period. Finally, Diversified Trust Co grew its holdings in BridgeBio Pharma by 3.0% during the third quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock valued at $936,000 after purchasing an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 4.0 %

NASDAQ BBIO opened at $27.49 on Thursday. 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 $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09. The stock’s 50 day moving average is $25.00 and its two-hundred day moving average is $26.22.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 stock was 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 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 disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock worth $150,056,923 in the last 90 days. 24.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on BBIO shares. HC Wainwright upped their price objective on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Bank of America lifted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Oppenheimer began coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Finally, Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.