HighVista Strategies LLC Acquires 24,482 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

HighVista Strategies LLC lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 54.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,054 shares of the company's stock after purchasing an additional 24,482 shares during the quarter. HighVista Strategies LLC's holdings in BridgeBio Pharma were worth $1,758,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Bfsg LLC raised its position in 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 buying an additional 790 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma during the 2nd quarter worth about $48,000. Values First Advisors Inc. acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $57,000. CWM LLC raised its holdings in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after acquiring an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after purchasing an additional 1,645 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BBIO. Cantor Fitzgerald reissued an "overweight" rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Leerink Partners reduced their price objective on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Finally, Piper Sandler assumed 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 thirteen have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average target price of $48.43.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 25,260,971 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is currently owned by company insiders.

BridgeBio Pharma Trading Down 0.1 %

Shares of BBIO traded down $0.02 during trading hours on Tuesday, hitting $26.58. 1,759,978 shares of the stock were exchanged, compared to its average volume of 1,917,085. The business has a 50-day moving average of $25.02 and a 200-day moving average of $26.17. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

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.