Erste Asset Management GmbH Buys New Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Erste Asset Management GmbH bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 140,225 shares of the company’s stock, valued at approximately $3,497,000. Erste Asset Management GmbH owned 0.07% of BridgeBio Pharma as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. First Turn Management LLC acquired a new position in BridgeBio Pharma during the third quarter worth $10,178,000. Intech Investment Management LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $1,136,000. Jennison Associates LLC purchased a new position in shares of BridgeBio Pharma in the third quarter worth about $767,000. Comerica Bank lifted 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 buying an additional 37,277 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. grew its stake in BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock valued at $92,014,000 after acquiring an additional 217,000 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BBIO shares. Scotiabank raised their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. dropped their price objective 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, HC Wainwright lifted their target price on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the stock a “buy” rating in a research note 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 company. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Trading Down 1.8 %

Shares of NASDAQ BBIO opened at $26.60 on Tuesday. The stock has a fifty day simple moving average of $25.02 and a 200-day simple moving average of $26.17. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The stock has a market capitalization of $5.03 billion, a PE ratio of -11.04 and a beta of 1.09.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,545 shares of company stock valued at $150,056,923 in the last three months. 24.66% of the stock is owned by corporate insiders.

BridgeBio Pharma Company 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.