BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,532,224 shares of the company’s stock after selling 2,748 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BridgeBio Pharma were worth $39,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $383,000. Algert Global LLC raised its stake in shares of BridgeBio Pharma by 144.3% during the 3rd quarter. Algert Global LLC now owns 136,447 shares of the company’s stock valued at $3,474,000 after buying an additional 80,599 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of BridgeBio Pharma by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after buying an additional 95,605 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of BridgeBio Pharma by 23.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,367 shares of the company’s stock valued at $18,773,000 after buying an additional 139,104 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $1,136,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insiders Place Their Bets

In other news, 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 directly owns 25,260,971 shares in the company, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,831,545 shares of company stock worth $150,056,923. Corporate insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBIO. Leerink Partners reduced their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Oppenheimer initiated coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Scotiabank lifted their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday. Bank of America lifted their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” 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 given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

BridgeBio Pharma Trading Up 4.0 %

NASDAQ:BBIO opened at $27.49 on Friday. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The stock has a 50 day moving average of $25.01 and a two-hundred day moving average of $26.22. The firm has a market cap of $5.20 billion, a P/E ratio of -11.41 and a beta of 1.09.

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.