Candriam S.C.A. Takes $7.74 Million Position in BridgeBio Pharma, Inc. $BBIO

Candriam S.C.A. bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 148,986 shares of the company’s stock, valued at approximately $7,738,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the second quarter valued at approximately $25,000. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma in the 1st quarter valued at $35,000. First Horizon Corp bought a new stake in BridgeBio Pharma during the 3rd quarter valued at $36,000. AlphaQuest LLC raised its holdings in BridgeBio Pharma by 254.3% during the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock worth $42,000 after buying an additional 585 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of BridgeBio Pharma by 28.6% in the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after buying an additional 227 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 0.2%

Shares of BridgeBio Pharma stock opened at $72.47 on Wednesday. The business’s fifty day simple moving average is $75.56 and its 200 day simple moving average is $62.71. The firm has a market capitalization of $13.97 billion, a P/E ratio of -17.34 and a beta of 1.13. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $81.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BBIO shares. Leerink Partners boosted their target price on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Evercore reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Piper Sandler raised their target price on BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Truist Financial upped their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $71.00 price objective (up from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $79.05.

Insider Activity

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $73.97, for a total transaction of $2,958,800.00. Following the sale, the chief executive officer directly owned 735,686 shares in the company, valued at $54,418,693.42. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Trimarchi sold 16,934 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the completion of the transaction, the chief financial officer directly owned 382,830 shares in the company, valued at $25,442,881.80. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 260,700 shares of company stock worth $18,157,071. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.