BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,586 shares of the company’s stock after purchasing an additional 9,225 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BridgeBio Pharma were worth $1,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Profund Advisors LLC boosted its holdings in shares of BridgeBio Pharma by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after acquiring an additional 555 shares during the last quarter. American International Group Inc. boosted its holdings in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after acquiring an additional 565 shares during the last quarter. Bfsg LLC boosted its holdings in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares during the period. Finally, Amalgamated Bank grew its position in BridgeBio Pharma by 24.7% during the second 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. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 1.6 %

NASDAQ:BBIO opened at $23.72 on Monday. The company’s 50-day moving average price is $25.50 and its 200-day moving average price is $26.41. The company has a market cap of $4.48 billion, a P/E ratio of -9.84 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 Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma 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 transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BBIO shares. HC Wainwright restated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Friday, October 25th. Scotiabank raised their price target on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Leerink Partners dropped their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.57.

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.