Janus Henderson Group PLC Increases Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,818,012 shares of the company's stock after acquiring an additional 505,481 shares during the period. Janus Henderson Group PLC owned 2.55% of BridgeBio Pharma worth $122,658,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BBIO. Ensign Peak Advisors Inc grew its stake in BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company's stock valued at $41,698,000 after acquiring an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in BridgeBio Pharma by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company's stock worth $38,881,000 after buying an additional 442,248 shares in the last quarter. Emerald Advisers LLC lifted its holdings in BridgeBio Pharma by 65.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company's stock worth $28,095,000 after buying an additional 437,164 shares in the last quarter. First Turn Management LLC acquired a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $10,178,000. Finally, Panagora Asset Management Inc. lifted its holdings in BridgeBio Pharma by 75.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 727,963 shares of the company's stock worth $18,439,000 after buying an additional 312,686 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

BBIO stock traded down $0.44 during trading on Thursday, reaching $26.66. 1,155,429 shares of the company were exchanged, compared to its average volume of 1,912,795. The company has a market cap of $5.04 billion, a P/E ratio of -11.06 and a beta of 1.08. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32. The stock's 50 day moving average price is $25.17 and its 200 day moving average price is $26.12.

Analyst Ratings Changes

A number of research firms have issued reports on BBIO. Cantor Fitzgerald reiterated an "overweight" rating and set a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Evercore ISI reduced their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a "buy" rating in a report on Monday, November 25th. Piper Sandler started coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an "overweight" rating and a $46.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and a consensus price target 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 company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,831,545 shares of company stock valued at $150,056,923 over the last quarter. Corporate insiders own 24.66% of the company's stock.

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.