BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,284,802 shares of the company’s stock after purchasing an additional 95,605 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of BridgeBio Pharma worth $32,711,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BBIO. Ensign Peak Advisors Inc lifted 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 purchasing an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after acquiring an additional 442,248 shares during the period. Emerald Advisers LLC increased its position in shares of BridgeBio Pharma by 65.6% during the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock worth $28,095,000 after acquiring an additional 437,164 shares during the period. First Turn Management LLC purchased a new stake in shares of BridgeBio Pharma during the third quarter worth $10,178,000. Finally, Panagora Asset Management Inc. increased its position in shares of BridgeBio Pharma by 75.3% during the second quarter. Panagora Asset Management Inc. now owns 727,963 shares of the company’s stock worth $18,439,000 after acquiring an additional 312,686 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This trade 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 over the last 90 days. Corporate insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BBIO shares. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Scotiabank upped their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. cut their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, HC Wainwright increased their target price on BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $26.58 on Wednesday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The company has a market capitalization of $5.02 billion, a PE ratio of -11.03 and a beta of 1.08. The company has a fifty day moving average of $25.08 and a two-hundred day moving average of $26.11.

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.