BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Hhlr Advisors LTD.

Hhlr Advisors LTD. trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 26.4% in the third quarter, Holdings Channel reports. The fund owned 1,023,950 shares of the company’s stock after selling 366,703 shares during the period. BridgeBio Pharma accounts for about 0.6% of Hhlr Advisors LTD.’s portfolio, making the stock its 18th biggest position. Hhlr Advisors LTD.’s holdings in BridgeBio Pharma were worth $26,070,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its position in BridgeBio Pharma by 11.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 41,259 shares of the company’s stock worth $1,050,000 after acquiring an additional 4,317 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $383,000. Algert Global LLC lifted its holdings in shares of BridgeBio Pharma by 144.3% in 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of BridgeBio Pharma by 8.0% in 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 period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of BridgeBio Pharma by 23.3% in 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 period. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on BBIO shares. Bank of America raised their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. HC Wainwright raised their price target on BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday, November 25th. Scotiabank raised their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. JPMorgan Chase & Co. reduced their price target on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Evercore ISI reduced their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report 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’s stock. According to MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $48.43.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $27.09 on Friday. The stock has a fifty day moving average of $25.02 and a two-hundred day moving average of $26.21. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -11.24 and a beta of 1.09. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,545 shares of company stock valued at $150,056,923. Corporate insiders own 24.66% of the company’s stock.

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.