Algert Global LLC Has $3.47 Million Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Algert Global LLC raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 144.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,447 shares of the company’s stock after purchasing an additional 80,599 shares during the quarter. Algert Global LLC owned 0.07% of BridgeBio Pharma worth $3,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bfsg LLC grew its position in BridgeBio Pharma by 175.6% in the second 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 last quarter. Headlands Technologies LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. bought a new position in BridgeBio Pharma in the 3rd quarter valued at approximately $57,000. CWM LLC boosted its position in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

BBIO has been the topic of a number of research reports. Leerink Partners reduced 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. Bank of America upped their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. HC Wainwright upped their price target on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday. Finally, Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.43.

BridgeBio Pharma Stock Up 16.1 %

Shares of NASDAQ:BBIO opened at $27.19 on Tuesday. The stock’s 50 day moving average is $24.98 and its 200-day moving average is $26.23. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -11.28 and a beta of 1.09. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32.

Insider Activity

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s 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 completion of 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 have sold 5,831,545 shares of company stock worth $150,056,923 over the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

About BridgeBio Pharma

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.