Y Intercept Hong Kong Ltd Purchases Shares of 13,279 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Y Intercept Hong Kong Ltd acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, HoldingsChannel reports. The firm acquired 13,279 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of BridgeBio Pharma by 44.5% during the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after acquiring an additional 506,845 shares during the period. The Manufacturers Life Insurance Company grew its holdings in BridgeBio Pharma by 40.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after buying an additional 442,248 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in BridgeBio Pharma by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock worth $32,711,000 after acquiring an additional 95,605 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BBIO shares. Bank of America boosted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler initiated coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Monday. Leerink Partners reduced their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Oppenheimer initiated coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $27.82 on Wednesday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The company has a market cap of $5.26 billion, a PE ratio of -11.54 and a beta of 1.08. The firm has a 50-day moving average of $25.70 and a 200-day moving average of $26.09.

Insider Activity

In related news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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. The trade was 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 dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, 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 position. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by corporate insiders.

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.