Royce & Associates LP Invests $3.11 Million in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Royce & Associates LP bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 121,955 shares of the company's stock, valued at approximately $3,105,000. Royce & Associates LP owned 0.06% of BridgeBio Pharma as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC increased its position 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 acquiring an additional 790 shares during the period. Headlands Technologies LLC acquired a new position in shares of BridgeBio Pharma during the second quarter worth about $48,000. Values First Advisors Inc. purchased a new stake in shares of BridgeBio Pharma during the third quarter worth approximately $57,000. CWM LLC lifted its stake in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $117,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

BBIO stock traded up $0.19 during midday trading on Tuesday, hitting $22.54. 2,147,999 shares of the stock were exchanged, compared to its average volume of 1,854,799. The stock's 50-day moving average price is $25.18 and its 200-day moving average price is $26.33. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -9.35 and a beta of 1.09. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BBIO shares. JPMorgan Chase & Co. decreased their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Piper Sandler initiated coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 target price on the stock. Bank of America reiterated a "buy" rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $43.00 target price on shares of BridgeBio Pharma in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $47.57.

Insider Buying and Selling

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.66% of the company's stock.

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.