Frazier Life Sciences Management L.P. Buys 127,853 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Frazier Life Sciences Management L.P. lifted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,760,457 shares of the company's stock after purchasing an additional 127,853 shares during the period. BridgeBio Pharma comprises about 3.8% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 9th largest position. Frazier Life Sciences Management L.P. owned 1.99% of BridgeBio Pharma worth $95,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BBIO. Barclays PLC grew its holdings in BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company's stock worth $13,876,000 after acquiring an additional 131,743 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in BridgeBio Pharma during the 3rd quarter worth about $338,000. Quarry LP grew its holdings in BridgeBio Pharma by 33.3% during the 3rd quarter. Quarry LP now owns 10,000 shares of the company's stock worth $255,000 after acquiring an additional 2,500 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in BridgeBio Pharma during the 3rd quarter worth about $1,286,000. Finally, Melqart Asset Management UK Ltd grew its holdings in BridgeBio Pharma by 31.0% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 403,485 shares of the company's stock worth $10,273,000 after acquiring an additional 95,574 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded down $0.46 on Tuesday, hitting $29.04. The company had a trading volume of 1,444,982 shares, compared to its average volume of 1,914,228. The company has a market capitalization of $5.49 billion, a PE ratio of -12.12 and a beta of 1.08. The company's fifty day moving average price is $25.33 and its 200-day moving average price is $26.09. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BBIO shares. Piper Sandler started coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 price objective on the stock. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a "market perform" rating on the stock. Bank of America lifted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Scotiabank lifted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $47.69.

Insider Buying and Selling

In other news, CFO Brian C. Stephenson sold 4,156 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company's stock, valued at $2,101,116.78. This 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 available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company's stock, 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 valued at $150,056,923. 24.66% of the stock is owned by corporate insiders.

About BridgeBio Pharma

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.