Connor Clark & Lunn Investment Management Ltd. Invests $309,000 in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,148 shares of the company’s stock, valued at approximately $309,000.

Several other large investors also recently bought and sold shares of the business. Bfsg LLC lifted its stake in BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares during the period. Headlands Technologies LLC purchased a new stake in BridgeBio Pharma in the second quarter worth approximately $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma in the 3rd quarter worth approximately $57,000. CWM LLC raised its stake in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after buying an additional 962 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction 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 transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following 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 position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock worth $150,056,923 in the last three months. 24.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BBIO. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank raised their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $27.09 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32. The stock has a fifty day simple moving average of $25.02 and a two-hundred day simple moving average of $26.20. The firm has a market capitalization of $5.12 billion, a PE ratio of -11.24 and a beta of 1.09.

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.