State of New Jersey Common Pension Fund D Purchases 16,545 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

State of New Jersey Common Pension Fund D boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,131 shares of the company's stock after acquiring an additional 16,545 shares during the period. State of New Jersey Common Pension Fund D's holdings in BridgeBio Pharma were worth $2,556,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BBIO. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock worth $122,658,000 after purchasing an additional 505,481 shares during the period. Emerald Advisers LLC grew its stake in BridgeBio Pharma by 65.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company's stock valued at $28,095,000 after buying an additional 437,164 shares in the last quarter. First Turn Management LLC purchased a new stake in shares of BridgeBio Pharma during the third quarter worth $10,178,000. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of BridgeBio Pharma by 50.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company's stock worth $19,129,000 after acquiring an additional 253,101 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of BridgeBio Pharma in the third quarter valued at $3,497,000. Institutional investors own 99.85% of the company's stock.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the sale, the chief financial officer now owns 93,758 shares of the company's stock, valued at $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,496,239 shares of company stock valued at $122,612,036 over the last three months. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded up $0.04 during trading hours on Friday, reaching $36.85. 2,508,887 shares of the stock traded hands, compared to its average volume of 2,933,085. The stock has a 50 day simple moving average of $31.71 and a two-hundred day simple moving average of $27.85. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The company has a market cap of $6.96 billion, a price-to-earnings ratio of -15.29 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. HC Wainwright restated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a report on Friday. Citigroup increased their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.67.

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.