Algert Global LLC Purchases 80,599 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Algert Global LLC increased its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 144.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,447 shares of the company's stock after acquiring an additional 80,599 shares during the period. Algert Global LLC owned approximately 0.07% of BridgeBio Pharma worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American International Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company's stock worth $1,778,000 after buying an additional 565 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company's stock worth $24,859,000 after buying an additional 145,594 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company's stock worth $102,402,000 after buying an additional 2,169,143 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company's stock worth $3,265,000 after buying an additional 7,153 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of BridgeBio Pharma by 3,013.5% during the 1st quarter. Comerica Bank now owns 38,514 shares of the company's stock valued at $1,191,000 after purchasing an additional 37,277 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Down 2.8 %

Shares of BBIO traded down $0.75 during trading hours on Tuesday, reaching $26.44. 4,312,568 shares of the company traded hands, compared to its average volume of 1,921,150. The stock has a fifty day simple moving average of $24.98 and a 200 day simple moving average of $26.23. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The stock has a market capitalization of $5.00 billion, a PE ratio of -11.10 and a beta of 1.09.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 sale, the insider now directly owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,831,545 shares of company stock worth $150,056,923. 24.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several recent research reports. Evercore ISI reduced their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the stock a "buy" rating in a research note on Monday. Bank of America boosted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.