399,781 Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Bought by First Turn Management LLC

First Turn Management LLC purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 399,781 shares of the company's stock, valued at approximately $10,178,000. First Turn Management LLC owned about 0.21% of BridgeBio Pharma as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in BridgeBio Pharma by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 35,583 shares of the company's stock valued at $1,100,000 after buying an additional 2,900 shares during the last quarter. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company's stock worth $408,828,000 after purchasing an additional 421,832 shares during the period. American International Group Inc. raised its holdings in 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 purchasing an additional 565 shares during the period. EntryPoint Capital LLC purchased a new position in BridgeBio Pharma during the first quarter valued at $117,000. Finally, Capital Research Global Investors grew its holdings in BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company's stock valued at $68,398,000 after purchasing an additional 1,111,975 shares during the period. Institutional investors own 99.85% of the company's stock.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded up $0.19 during trading on Tuesday, hitting $22.54. 2,147,999 shares of the stock traded hands, compared to its average volume of 1,854,799. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The firm has a 50-day simple moving average of $25.33 and a 200-day simple moving average of $26.37.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BBIO shares. Oppenheimer initiated coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Scotiabank upped their price target on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the stock a "sector outperform" rating in a research report on Friday. HC Wainwright reissued a "buy" rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research note on Friday, October 25th. Finally, Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an "overweight" rating and a $46.00 target price on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.57.

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.