Polar Asset Management Partners Inc. Buys Shares of 50,500 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Polar Asset Management Partners Inc. purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 50,500 shares of the company's stock, valued at approximately $1,286,000.

Several other hedge funds also recently made changes to their positions in BBIO. First Turn Management LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $10,178,000. Intech Investment Management LLC acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $1,136,000. Jennison Associates LLC bought a new stake in shares of BridgeBio Pharma during the 3rd quarter worth approximately $767,000. Janus Henderson Group PLC raised its stake in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock worth $122,658,000 after purchasing an additional 505,481 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company's stock valued at $1,191,000 after buying an additional 37,277 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BBIO. Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a "market perform" rating on the stock. Leerink Partners dropped their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Scotiabank raised their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a research note on Monday, November 25th. Bank of America boosted 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, November 25th. Finally, HC Wainwright raised their price objective on BridgeBio Pharma from $43.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.43.

Insider Buying and Selling

In other news, 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 transaction of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company's stock, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the sale, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This represents a 4.24 % 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 90 days. 24.66% of the stock is owned by corporate insiders.

BridgeBio Pharma Trading Up 8.0 %

NASDAQ BBIO traded up $2.13 during trading on Friday, reaching $28.79. The company's stock had a trading volume of 2,920,851 shares, compared to its average volume of 1,917,067. The firm has a 50 day moving average price of $25.17 and a 200 day moving average price of $26.12. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of -11.95 and a beta of 1.08.

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.