Intech Investment Management LLC Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Intech Investment Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,623 shares of the company's stock, valued at approximately $1,136,000.

A number of other hedge funds have also modified their holdings of the business. Bfsg LLC boosted its stake in shares of 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 period. Headlands Technologies LLC acquired a new stake 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 during the 3rd quarter worth about $57,000. CWM LLC raised its position in shares of BridgeBio Pharma by 132.9% during the 3rd 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. raised its position in shares of BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after acquiring an additional 1,645 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. This represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. 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 company insiders.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $1.05 during trading on Thursday, reaching $27.49. 2,491,761 shares of the stock were exchanged, compared to its average volume of 1,923,703. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of -11.41 and a beta of 1.09. The firm's 50-day moving average price is $25.00 and its 200 day moving average price is $26.22.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBIO. Oppenheimer initiated coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a "market perform" rating on the stock. Leerink Partners cut their price target on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Piper Sandler initiated coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price target on the stock. Finally, Bank of America lifted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.