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

Royce & Associates LP bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 121,955 shares of the company’s stock, valued at approximately $3,105,000. Royce & Associates LP owned about 0.06% of BridgeBio Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in shares of BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares during the last quarter. Capital Research Global Investors grew its position in BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after acquiring an additional 1,111,975 shares during the period. Ensign Peak Advisors Inc increased its stake in 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 last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 worth $38,881,000 after purchasing an additional 442,248 shares during the period. Finally, Emerald Advisers LLC lifted its stake in shares of BridgeBio Pharma by 65.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after purchasing an additional 437,164 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BBIO. Evercore ISI cut their price target 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 restated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Bank of America restated a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Finally, Oppenheimer assumed coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

BridgeBio Pharma Stock Down 5.8 %

BBIO opened at $22.35 on Tuesday. The firm has a market cap of $4.22 billion, a PE ratio of -9.27 and a beta of 1.09. The business has a fifty day simple moving average of $25.33 and a 200-day simple moving average of $26.37. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 24.66% of the stock is currently owned by company insiders.

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.