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

Royce & Associates LP purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 121,955 shares of the company’s stock, valued at approximately $3,105,000.

Several other institutional investors have also made changes to their positions in BBIO. Janus Henderson Group PLC increased its stake in 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 buying an additional 2,169,143 shares during the period. Capital Research Global Investors grew its holdings in shares of BridgeBio Pharma by 101.1% during the 1st 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 in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after acquiring an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of BridgeBio Pharma by 40.5% in 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 last quarter. Finally, Emerald Advisers LLC raised its holdings 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 in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Down 5.8 %

Shares of NASDAQ:BBIO opened at $22.35 on Tuesday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -9.27 and a beta of 1.09. The business has a 50 day moving average price of $25.33 and a 200 day moving average price of $26.37. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent research reports. Leerink Partners lowered their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Bank of America reissued a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler started coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, Scotiabank increased their price target on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the stock a “sector outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.57.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, 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 the SEC website. Corporate insiders own 24.66% of the company’s stock.

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.