Advisors Asset Management Inc. Raises Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Advisors Asset Management Inc. raised its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 56.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,576 shares of the company’s stock after purchasing an additional 1,645 shares during the quarter. Advisors Asset Management Inc.’s holdings in BridgeBio Pharma were worth $117,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after purchasing an additional 145,594 shares during the period. California State Teachers Retirement System boosted its holdings in shares of BridgeBio Pharma by 7.3% in the 1st quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock valued at $3,265,000 after acquiring an additional 7,153 shares during the last quarter. Comerica Bank increased its stake in shares of BridgeBio Pharma by 3,013.5% in the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after acquiring an additional 37,277 shares during the period. Transcend Capital Advisors LLC purchased a new position in shares of BridgeBio Pharma during the second quarter worth $342,000. Finally, Diversified Trust Co raised its stake in shares of BridgeBio Pharma by 28.9% during the 2nd quarter. Diversified Trust Co now owns 35,713 shares of the company’s stock valued at $905,000 after buying an additional 8,011 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % 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 in the last ninety days. 24.66% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Trading Down 1.5 %

BBIO opened at $27.09 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The firm has a market capitalization of $5.12 billion, a PE ratio of -11.24 and a beta of 1.09. The firm’s 50-day moving average price is $25.02 and its 200 day moving average price is $26.21.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BBIO shares. Evercore ISI lowered their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright raised their price objective on BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday, November 25th. Oppenheimer started coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Scotiabank boosted their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

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.