Marshall Wace LLP Invests $781,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Marshall Wace LLP acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,849 shares of the company's stock, valued at approximately $781,000.

Other institutional investors also recently bought and sold shares of the company. Profund Advisors LLC grew its holdings in shares of BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock worth $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. increased its holdings in shares of BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company's stock valued at $1,778,000 after purchasing an additional 565 shares during the period. Parkman Healthcare Partners LLC increased its holdings in shares of BridgeBio Pharma by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company's stock valued at $4,067,000 after purchasing an additional 734 shares during the period. Bfsg LLC raised its stake in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company's stock worth $31,000 after purchasing an additional 790 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock worth $123,000 after purchasing an additional 962 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBIO has been the topic of several recent research reports. Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a "market perform" rating on the stock. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price target for the company. Cantor Fitzgerald restated 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. dropped their target price 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. Finally, HC Wainwright reissued a "buy" rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction 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 sale, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at approximately $120,917,867.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal 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 stock in a transaction 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 in the company, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,544 shares of company stock valued at $150,128,821. Corporate insiders own 24.66% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded down $1.35 during trading hours on Wednesday, reaching $23.38. The company's stock had a trading volume of 2,633,516 shares, compared to its average volume of 1,878,502. The stock has a market cap of $4.38 billion, a PE ratio of -7.68 and a beta of 1.08. The company's 50-day moving average is $26.03 and its two-hundred day moving average is $26.85. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the company earned ($0.98) earnings per share. The firm's revenue for the quarter was up 32.1% compared to the same quarter last year. Equities analysts expect that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

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.